FOMC - Crypto Analysts Foresee Choppy Waters For Bitcoin: 'Resistance Walls' Keeping Uptrend At Bay | Benzinga

As the global financial community turns its eyes to the upcoming Federal Open Market Committee (FOMC) meeting scheduled for Wednesday, Bitcoin (CRYPTO: BTC) has retreated below the $41,000 threshold, with crypto analysts forecasting a bumpy road ahead for the king crypto.

What Happened: Ali, a cryptocurrency analyst, has shared his insights, providing critical support levels for investors to consider. "In case of a deeper correction, Bitcoin finds solid support between $37,150 and $38,360,” Ali stated. He emphasized the significance of this range by noting it is fortified by 1.52 million addresses that collectively hold 534,000 BTC.

Ali warned about the upcoming hurdles for Bitcoin’s potential recovery. “Also, watch out for two resistance walls that could keep the BTC uptrend at bay: one at $43,850 and another at $46,400."