Fed Decision Looms Large as Bitcoin and Ethereum Continue to Climb

The financial markets are bracing for a pivotal week ahead of the US Federal Reserve's decision. The Fed is expected to keep interest rates unchanged, but the tone of Chairman Powell will be closely watched.

Bitcoin has been steadily climbing, bouncing off a key support level around $64,000 and maintaining its upward momentum. Ethereum has also been gaining strength, approaching $2,000 and showing no signs of slowing down.

The authors of the report are cautious about making predictions, but they outline three possible scenarios for Bitcoin's price action this week. The first scenario sees a sweep of key targets, including a round number at $67,255. If this happens, it could be a sign that the market is due for a correction.

The second scenario envisions a mild pullback to collect local liquidity, followed by a continuation of the rally. This would be a relatively minor setback and could provide a buying opportunity. The third scenario is the least likely but most extreme: a reversal into a deep correction, potentially all the way down to $60,800.