Bitcoin: What Can Happen With the Price Ahead of The FOMC Meeting
Bitcoin ($BTC) is showing renewed strength as it inches closer to a key resistance level near $97,700, according to market analyst Ali.
The move comes just ahead of the highly anticipated FOMC meeting, adding a layer of macroeconomic suspense to the chart setup.
In recent 4-hour candlestick chart, Bitcoin has recovered from a local low near $93,300 and is now consolidating around $96,950. The price action reveals a clear upward push from the mid-range support, with a sharp breakout above $95,700, flipping former resistance into support.
The next test lies at the $97,700 resistance zone, which previously acted as a ceiling in late April. If BTC manages to break and close above that level with strong volume, we could see a surge toward the psychological $100K milestone.
However, Ali warns that if Bitcoin gets rejected at this resistance, a short-term pullback is likely, potentially retesting the $95,300–$94,500 range.
Different Opinion
Although Bitcoin has surged back to $97,000, it once again hit a wall at the critical $97K–$98.5K resistance zone, according to Swissblock Technologies. This range, previously highlighted as a confluence area and potential launchpad toward the $100K milestone, has now acted as resistance multiple times—suggesting market hesitation ahead of the U.S. Federal Reserve’s upcoming FOMC meeting.
Swissblock’s chart places this resistance zone just above short-term support between $93K and $95K, a range that has caught most recent dips and continues to serve as the foundation for bullish price action. However, analysts warn that pre-FOMC volatility is often deceptive, prone to manipulation and liquidation traps that can shake out both long and short positions.
The recent rally may have been driven by positive sentiment around US-China trade talks, but until the Fed delivers its decision, traders are urged to remain cautious. On-chain and trading volume profiles suggest heightened activity near current levels—underscoring the importance of this price zone in shaping the next major move.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
