🏛 1. Current Market Structure
📈 BTC recently pushed into a bearish OTE zone, approaching $98,000, but is now showing signs of exhaustion.
📐 The price is currently forming a descending wedge, indicating a possible consolidation phase before the next major move.
🌍 2. Bigger Picture Outlook
⚠️ With the FOMC meeting in 2 hours, the potential for a rate cut would generally be positive for BTC, as it reduces the opportunity cost of holding non-yielding assets like Bitcoin.
🔎 However, if no cut is announced, we could see a short-term retracement to grab liquidity below before a bullish continuation.
🔍 3. Key Technical Observations
🟦 Bearish OTE Zone: Currently acting as a ceiling, with strong supply overhead.
🟥 1D IFVG: Previously tested and rejected, confirming this area as a key resistance.
🟩 4H FVG: Possible support if BTC pulls back, offering a potential springboard for a new leg up.
📉 Descending wedge: Classic bullish reversal pattern, but needs confirmation.
🎯 4. Short-Term Expectations
📉 Bearish Scenario:
Rejection from the OTE and descending wedge
Return to 4H FVG (~$94,000)
Potential sweep of lower liquidity zones before a bounce
📈 Bullish Scenario:
Breakout of the descending wedge
Clear move above the OTE zone
Potential push toward the psychological $100,000 level if sentiment turns bullish post-FOMC.
🔥 5. Upcoming Catalysts
🕰 FOMC in 2 hours: Key event for the short-term direction.
💸 Powell + Rates: If the tone is dovish or if a cut is hinted, BTC could break out to the upside.
🔎 Liquidity grabs and trap setups are likely, given the recent price structure.
✅ Conclusion
👉 BTC is currently consolidating near a major resistance, with the FOMC as a critical catalyst.
📍 Key levels to watch:
Bearish OTE Zone (~$98,000)
4H FVG (~$94,000)
Lower liquidity zones (~$91,000 - $89,000)
⏳ As always, stay alert for false breakouts and liquidity sweeps as volatility picks up.
📈 BTC recently pushed into a bearish OTE zone, approaching $98,000, but is now showing signs of exhaustion.
📐 The price is currently forming a descending wedge, indicating a possible consolidation phase before the next major move.
🌍 2. Bigger Picture Outlook
⚠️ With the FOMC meeting in 2 hours, the potential for a rate cut would generally be positive for BTC, as it reduces the opportunity cost of holding non-yielding assets like Bitcoin.
🔎 However, if no cut is announced, we could see a short-term retracement to grab liquidity below before a bullish continuation.
🔍 3. Key Technical Observations
🟦 Bearish OTE Zone: Currently acting as a ceiling, with strong supply overhead.
🟥 1D IFVG: Previously tested and rejected, confirming this area as a key resistance.
🟩 4H FVG: Possible support if BTC pulls back, offering a potential springboard for a new leg up.
📉 Descending wedge: Classic bullish reversal pattern, but needs confirmation.
🎯 4. Short-Term Expectations
📉 Bearish Scenario:
Rejection from the OTE and descending wedge
Return to 4H FVG (~$94,000)
Potential sweep of lower liquidity zones before a bounce
📈 Bullish Scenario:
Breakout of the descending wedge
Clear move above the OTE zone
Potential push toward the psychological $100,000 level if sentiment turns bullish post-FOMC.
🔥 5. Upcoming Catalysts
🕰 FOMC in 2 hours: Key event for the short-term direction.
💸 Powell + Rates: If the tone is dovish or if a cut is hinted, BTC could break out to the upside.
🔎 Liquidity grabs and trap setups are likely, given the recent price structure.
✅ Conclusion
👉 BTC is currently consolidating near a major resistance, with the FOMC as a critical catalyst.
📍 Key levels to watch:
Bearish OTE Zone (~$98,000)
4H FVG (~$94,000)
Lower liquidity zones (~$91,000 - $89,000)
⏳ As always, stay alert for false breakouts and liquidity sweeps as volatility picks up.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.