Bitcoin Holds $114,530 Amid FOMC Volatility: Bulls Eye $117,600 Resistance

Bitcoin's price action was subdued last week, closing at $114,530 after reclaiming the $112,200 resistance level, putting bulls in sight of the next target at $115,500. However, bears remain in control with heavy resistance at $117,600 and $122,000. Key short-term support to hold is $106,900; a break below this could lead to a retest of the $105,000 to $102,000 zone. The upcoming week is expected to be volatile due to the FOMC meeting and major tech earnings reports. Bulls aim to hold $109,000 as a floor, but technical indicators suggest momentum may fade, potentially leading to a rejection near the $117,600 Fibonacci level before the major events on Wednesday. Long-term headwinds include potential negative outcomes from the US-China tariff dispute and a US court ruling expected around November 5th.

(Source：Bitcoin Magazine)