Back at it 👋
Bitcoin climbed out of the falling channel over the weekend and ran straight into the 116.3K resistance we’ve been tracking. Congratulations on a textbook long trade, just like from the lessons.👏
Now price is testing that same spot again, with buyers and sellers battling it out.
The short-term picture:
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📈 If BTC can break above 116.7K (local top zone), momentum could carry it toward 117K and higher.
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📉 If it fails again, that risks a double-top, with pullbacks toward 115.8K, then 115K, and 114.5K.
💡 Just copy these levels to your chart. Likely, they will provide structure for the rest of this week.
Big Picture (this week ahead) 🌍
Expectations that the Fed will cut rates on September 17 is the main driver this week. A small 0.25% cut is expected, but the real focus will be on how they guide the rest of the year.
Technicals look solid:
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Price is holding above key moving averages, showing buyers still in control.
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117K remains the wall that sellers are defending.
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Indicators suggest demand is strong, but not overheated.
In plain English: the market’s calm for now, but the Fed’s meeting is the spark everyone is waiting for.❗️
If the Fed cuts and hints at more easing, BTC could get fuel for another leg higher.📈
If they sound cautious on inflation, resistance near 117K may hold.📉
