BTC Holds Key Support Ahead of FOMC Decision

Bitcoin's price action is under pressure as it tests key support ahead of tomorrow's FOMC interest-rate decision. The asset has retreated to around $77K, its lowest point since the recent consolidation. A breakdown below this level could trigger a sharp expansion in volatility and signal that the multi-week consolidation is resolving lower.

The daily chart shows Bitcoin struggling to establish itself above the $80K-$82.3K resistance zone, with repeated rejections weakening momentum. However, as long as BTC holds above the major support areas underneath, the broader structure remains intact.

Looking at the 4-hour timeframe, price action has shifted toward the lower boundary of its ascending channel since the August breakout. A decisive breakdown below $76K-$77K could confirm that the consolidation is resolving lower, targeting the $72K-$74K support zone.