{"id":515563,"date":"2024-05-02T07:41:45","date_gmt":"2024-05-02T07:41:45","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=515563"},"modified":"2024-05-02T15:42:17","modified_gmt":"2024-05-02T15:42:17","slug":"bitcoin-price-prediction-btc-plunges-3-as-the-fomc-keeps-rates-unchanged-but-the-99btc-learn-to-earn-crypto-ico-closes-on-1-million","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-price-prediction-btc-plunges-3-as-the-fomc-keeps-rates-unchanged-but-the-99btc-learn-to-earn-crypto-ico-closes-on-1-million","title":{"rendered":"Bitcoin Price Prediction: BTC Plunges 3% As The FOMC Keeps Rates Unchanged, But The 99BTC Learn-To-Earn Crypto ICO Closes On $1 Million"},"content":{"rendered":"

The Bitcoin price dropped 3% in the last 24 hours <\/span>to trade at $57,656<\/span><\/a> as of 02:34 a.m. EST on trading volume that rose 1% to $43.9 billion.<\/span><\/p>\n

The announcements came at the end of the two-day Federal Open Market Committee (FOMC) meeting. With the pause button hit again, interest rates were held at 5.25%.<\/span><\/p>\n

Bitcoin Price To Rally Above The $66,766 Resistance<\/span><\/h2>\n
\"Bitcoin
BTCUSD Chart Analysis Source: Tradingview.com<\/figcaption><\/figure>\n

The Bitcoin price has been trading within a consolidation channel around the $72,000 and $64,000 range, with bulls and bears struggling for dominance. The bears won the struggle, which pushed the price down to $60,000 and surged again to the resistance at $66,766, forming a rounding bottom pattern.<\/span><\/p>\n

However, the bears seem to have taken control, pushing BTC down through a falling wedge pattern. The bearish trend is dominant, with the price falling below the lower boundary of the falling wedge.<\/span><\/p>\n

BTC is also trading below both the 50-day and 200-day Simple Moving Averages (SMAs), which coincides with the price falling further down below the $64,000 critical support.<\/span><\/p>\n

Moreover, the Relative Strength Index (RSI) is also trading below the 50-midline level at the 30-oversold region at 34 and aims to move to the north as the price moves up. If the bulls sustain the breakout above $56,500, the RSI could soar to the 50-midline level, an indication of intense buying pressure.<\/span><\/p>\n

Bitcoin Price Prediction<\/span><\/h2>\n

The Bitcoin price analysis indicates that the BTC bulls are staging a breakout above the $56,500 support zone.<\/span><\/p>\n

The bulls aim to capitalize on the formation of the rounding bottom and falling wedge patterns to push the price to breach the $66,766 resistance, as they target $70,000.<\/span><\/p>\n

However, if the bears continue exerting pressure, BTC could still fall to the next support of around $55,800.<\/span><\/p>\n

Meanwhile, as the BTC bulls aim to push the price higher, investors are also buying $99BTC as its presale soars to within a whisker of $1 million raised.<\/span><\/p>\n

99Bitcoins: The Next 100X Crypto To Buy Now?<\/span><\/h2>\n

99Bitcoins (99BTC)<\/span><\/a> is one of the leading crypto educators, boasting over 700,000 subscribers on the YouTube channel and more than two million registered for the website’s courses.<\/span><\/p>\n

\n

What is Spatial Computing? Discover how #Blockchain<\/a> is transforming AR\/VR, making immersive digital worlds more interactive and secure.<\/p>\n

Dive deeper: https:\/\/t.co\/2hlZYRFHBv<\/a>#99BTC<\/a> #SpatialComputing<\/a> #Web3<\/a><\/p>\n

— 99Bitcoins (@99BitcoinsHQ) April 8, 2024<\/a><\/p><\/blockquote>\n