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Bitcoin (BTC) has increased by almost 4% in the last 24 hours among continuous variability. Since the price undergoes a resistance of USD 85,000, some analysts suggest that a jump of up to USD 90,000 may be around the corner.
Bitcoin will again analyze the $ 85,000 barrier
On Wednesday, Bitcoin exceeded the resistance of $ 85,000 after an raise of over 5% compared to yesterday’s low. The flagship crypto has not been able to recover the zone 85,000–86,000 USD over the past 10 days, trying to organize USD 84,000 support during this period.
Nevertheless, BTC has climbed in the last 24 hours before today’s meeting of the Federal Open Market Committee (FOMC). As some market observers noted, the expectations of the President of the Federal Reserve Jerome Powell can “make or break” a recent recovery of key support levels.
CRG analyst explained“Changing the rate (or lack thereof) in FOMC is usually not important (unless the change of surprises) – as it was baked. This is tips, tone, etc., it is important. New information surrounding the end of the revision of the Qt/Dot plot important to watch.”
The federal reserve announced its interest rate decision, setting the upper limit to 4.50%. Like Wu Blockchain ReportedThe decision was in line with the expected foot and unchanged from the previous one.
Meanwhile, “the dot chart indicates the expected reduction in the rate of 50 base points in 2025. In addition, from April, the Fed will slow down the balance sheet reduction rate, reducing the monthly limit of the treasure redemption from $ 25 billion to $ 5 billion while maintaining the agency debt limit and MBS for $ 35 billion.”
Daan Crypto Trades excellent This BTC price can “become quite interesting” thanks to FOMC variability. The message could send a flagship crypto to recover a key barrier of USD 85,000 or reproduction to low range.
According to the trader, the Bitcoin liquidation heat map showed “a few large clusters on both sides” of a weekly range. As a result, prices of 80,000–81 000 USD and 85,000–86,000 USD are two key zones to see among continuous variability.
BTC must store this key zone
The federal reserve report caused the Bitcoin price to the 10-day highest level 85 880 USD, registering 3.8% raise over time. Daan warned investors that the current range of 84,000–85,000 USD is a key level to be overcome, because BTC “is not able to indulge in the Daily 200MA/EMA cluster”.
Recovering this zone can send Bitcoin back to the resistance of USD 90,000 and recover your groundbreaking price range. On the contrary, the rejection could see BTC hit the up-to-date minima, risking a fall to $ 73,500.
Rekt Capital analyst excellent The seller’s volume in the last few days, which allowed the buyer to “enter”. According to the analyst, “buyers must show above average volume to make them more convincing in this movement.”
Additionally he Highlighted This daily relative Bitcoin (RSI) indicator has changed into a level of resistance, because it was in the process of falling from November 2024. For him, this level is worth in the future, because “the inheritance break of the RSI would probably precede trends at a price.”
Since then, Bitcoin has traded at USD 85,132, which is an raise of 4.9% last week.
A distinguished painting with unmplash.com, chart from tradingview.com
