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BTC Price Faces Crucial Test at $64,850 Ahead of FOMC Meeting

Guavy AI Editorial Team
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The Bitcoin (BTC) price is testing its resistance level at $64,850 as traders wait for the Federal Open Market Committee (FOMC) meeting on July 28-29. The current price of BTC is around $64,047.

According to technical analysis from @stoegii via X, Bitcoin has failed twice to reclaim this area, making it a short-term vulnerable spot for the trend. The level aligns with both the 50-day exponential moving average (EMA) and the daily volume-weighted average price (D-VWAP).

The FOMC meeting's policy decision on July 29 will be followed by a press conference at 2:30 p.m. ET, which may add another layer of uncertainty to the market.

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