Bitcoin’s price is increasing! The Bulls seem to have gained great control over the rally, which suggests that the price has just begun to spend a lot of time and mark the fresh peaks soon. In addition, the star Token is increasing once again ahead of the FOMC, in which the Fed reveals its interest rate decision. The markets and the price of BTC are prices in a pause, but it is expected that true volatility triggers with Powell’s speech.
The Fed is expected to keep the rates without changes; However, the tone is expected to have a great impact. As a result, the BTC piece is heating with the impulse vertically. However, BTC’s general behavior is an increase ahead of FOMC and reaching local maximums, followed by rejection. Therefore, the current commercial configuration suggests that the Token is ready to suffer from another setback, which can drag the levels to $ 95,000.
Bitcoin’s weekly table remains incremental as the price quotes within an ascending parallel channel. Two main technicians have become optimistic in the weekly table, the BMSB and the CMF. The upward market support band is about to show an upward crossover, while the weekly CMF has caused a rebound after falling below 0, levels not seen since July 2023. Although the volume is trying to increase, it cannot exceed the levels of the first quarter of 2023, but it has not been able to do it. As a result, the price of BTC is expected to maintain an upwardly consolidated trend and exceed the final resistance at $ 99,800, which can further boost the price above $ 100K.
Gold has been in great headlines since uncertainty has increased throughout the world. The levels have increased up to $ 3,400/OZ, printing massive candle from the beginning of the year. Meanwhile, Bitcoin seems to be closed after the traditional asset after decoupling from the stock markets. However, there is a 4 -month delay between the two assets, which suggests that the Token can catch up in the coming months.
However, it is known that the price of Bitcoin (BTC) moves much faster than any other asset with shorter cycles. Therefore, an increase above $ 100K towards a new ATH seems to be imminent.
