Fed Rate Cut Boosts Bitcoin: Key Levels to Watch
Good news today, ladies and gentlemen! The Fed has dropped interest rates by 50 basis points, which is exactly what we were hoping for. The market has reacted positively, and Bitcoin is climbing, currently at $61,831. We're looking for Bitcoin to close above this support line of $61,689.00 and if it bounces from here, we could face resistance at $62,905. Further up, there's strong resistance around $64,630. However, I believe we'll top out near $62,905, as we need to wait a few days after the Fed's rate cut to see how the market truly responds. By Friday or Monday, we should have a clearer picture of the market's direction. Right now, everything looks bullish—congratulations, everyone!
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