Bitcoin eyes $90K ahead of FOMC: Watch these BTC price levels next

Bitcoin (BTC) is exhibiting strong resilience, currently consolidating above the critical $70,000 psychological mark as traders position themselves for the Federal Open Market Committee (FOMC) meeting scheduled for later this week. The market is increasingly bullish, anticipating that a stable or dovish outlook from the Federal Reserve will inject further liquidity into risk assets, potentially propelling Bitcoin toward new valuation peaks.

Analysts note that the price action is tightly coiled. For a decisive move toward the $90,000 target, BTC must first overcome and solidify support above the established all-time high resistance zone, specifically the $73,800 level. A confirmed breakout above this ceiling opens the path to the significant psychological mark of $80,000, followed by the $90,000 projection, often cited as the next major Fibonacci extension target.

Conversely, maintaining the current bullish structure depends heavily on holding key support levels. The immediate crucial support lies at $68,500. A breach below this level could trigger profit-taking and test the robust demand zone near $66,000, which aligns closely with the 50-day Exponential Moving Average (EMA). Should the FOMC deliver a surprisingly hawkish statement—emphasizing higher rates for longer—a deep correction toward the major structural support at $60,000 cannot be ruled out. However, until such a correction materializes, the path of least resistance remains upward, with $90K firmly in sight.

Source: Bitcoin eyes $90K ahead of FOMC: Watch these BTC price levels next