Crypto
Bitcoin Rejects at Volume Resistance Zone as FOMC Decision Looms
Bitcoin's price action is facing a fresh rejection at a significant volume resistance zone as two major events converge. The Clarity Act delay and tomorrow's FOMC decision are creating a perfect storm that could lead to short-term dips, according to trader @CryptoKing4Ever.
The current price of $63,185.43 is situated within a bearish structure where the EMA50 at $64,574.01 and EMA200 at $63,898.33 are acting as overhead resistance levels.
Technical indicators such as MACD printing a death cross at -360.04 and RSI remaining neutral at 34.01 suggest exhaustion in the market, favoring further downside before any potential recovery attempt.