Bitcoin News: Standard Pre-FOMC Pullback and $120K Break Puts $143K in Play, Analysts Say
Bitcoin saw a standard pre-FOMC dip, with analysts watching the $120K level as key to potentially reaching $143K.Summary
Bitcoin hovered near $113,000 as traders awaited the conclusion of the Federal Open Market Committee (FOMC) meeting. Analysts suggest the recent pullback is standard before such events. Ali Martinez indicates that clearing the $120,000 resistance level is crucial, as his long-term pricing model suggests less historical resistance until the next major waypoint around $143,000.
Michaël van de Poppe views the drop as a routine check of support, emphasizing the need for the $112,000 level to hold for another push higher. Furthermore, Glassnode data shows buyer concentration near $111,000 and selling interest around $117,000, defining the current trading range. Technical analysis highlights immediate support at $112,500 and resistance between $115,600–$116,200; a decisive move above $120K would signal a shift upward.
(Source：CoinDesk)