Bitcoin Holds Support Floor as Fed Decision Looms

The Bitcoin price closed below $77K in the weekly chart on Sunday, but fortunately held onto its support floor at $76K.

With the Federal Reserve's interest rate decision on Wednesday, there are concerns that Bitcoin may drop back down to previous lows if a 25 basis point hike is announced as expected.

In the short-term, a breakout of a small descending trendline in the four-hour chart suggests that the price could break through $78,900 and $79,500 targets.