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Bitcoin has climbed an impressive 28% from its April 7 low of $74,450, reaching $95,646 as of Sunday afternoon. The uptrend has been steady, with the daily chart continuing to show a bullish structure marked by higher lows — a classic sign of strength and sustained buying pressure. But as the market enters a high-stakes week with the Federal Reserve’s Federal Open Market Committee decision set for Wednesday, Bitcoin traders should be on high alert.
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While the momentum has clearly favored the bulls in recent weeks, Bitcoin is now approaching a cluster of critical resistance levels on the higher timeframes — areas where profit-taking or institutional selling could easily stall or reverse the current move. On the weekly chart, Bitcoin is also testing the bearish .62 retracement level at $96,500, a historically significant technical marker that often acts as a turning point. With indices also hovering around major levels, a sharp reaction in risk assets could ripple into crypto markets.
As volatility is expected to rise around Wednesday’s FOMC announcement, attention turns to key support zones that may attract buyers on any retracement:
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$92,700 – Last Week’s Low: This is the nearest key level, and price isn’t far from it. If Bitcoin pulls back, how it reacts here could set the tone for the rest of the week.
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$90,000 – Psychological Round Number: Clean round numbers often act as strong levels of interest, especially in fast-moving markets. Traders may look for initial buying interest here.
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$88,000 – Must-Hold Weekly Level: This is the most important support in the current structure. A breakdown below $88,000 would shift the narrative toward weakness, possibly setting up a lower high on the weekly chart — a bearish development that could trigger further downside.
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Despite the caution warranted by looming macro events, Bitcoin’s trend on the daily chart remains bullish. If buyers maintain control and price holds above support, there are two primary upside targets in focus:
