FOMC

Bitcoin

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<p>Bitcoin has seen a remarkable run recently, rallying almost 140% year-to-year. However, some analysts are now eyeing the potential for a pullback or consolidation phase in the near future.</p>
<p>Trader <strong>Justin Bennett</strong> <a href="https://twitter.com/JustinBennettFX/status/1734278797434691933" target="_blank" rel="noopener noreferrer nofollow">notes </a>that a “long overdue pullback” may be brewing for BTC, especially with the FOMC policy meeting later this week.&nbsp;</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="577" src="https://captainaltcoin.com/wp-content/uploads/2023/12/image-318-1024x577.png" alt="" class="wp-image-396957" srcset="https://captainaltcoin.com/wp-content/uploads/2023/12/image-318-1024x577.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-318-300x169.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-318-767x432.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-318-1536x865.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-318-2048x1154.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-318-266x150.png 266w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-318-100x56.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-318-621x350.png 621w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-318-788x443.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-318.png 680w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>Losing support around $37,800 could trigger a drop back towards the $32k zone, according to Bennett. For now, he sees potential for more sideways chops between $37.8k and $48k.</p>
<p>Meanwhile, analyst Ali <a href="https://twitter.com/ali_charts/status/1734359407394254963" target="_blank" rel="noopener noreferrer nofollow">warns </a>that beyond the first support level cited by Bennett, there is another key zone between <strong>$37,150 and $38,360</strong> backed by significant holder demand that could halt a steeper BTC pullback. On the flip side, Ali points to upside resistance around $43,850 and $46,400 if bulls regain control.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="384" src="https://captainaltcoin.com/wp-content/uploads/2023/12/image-317-1024x384.png" alt="" class="wp-image-396949" srcset="https://captainaltcoin.com/wp-content/uploads/2023/12/image-317-1024x384.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-317-300x113.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-317-768x288.png 768w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-317-1536x576.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-317-2048x768.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-317-400x150.png 400w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-317-100x38.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-317-933x350.png 933w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-317-788x295.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-317.png 680w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>Read also:</p>
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<p>With uncertainty hanging over markets ahead of the Fed’s rate decision and recent minutes signaling no policy pivot in the near term, volatility could be in store for Bitcoin this week. Both bulls and bears will be closely eyeing the critical support levels between $37k and $38.3k if selling pressure mounts.</p>
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<p>The post <a href="https://captainaltcoin.com/bitcoin-faces-long-overdue-pullback-expert-suggests-that-this-btc-level-will-be-critical/" rel="noopener noreferrer nofollow">Bitcoin Faces “Long Overdue Pullback”, Expert Suggests That This BTC Level Will be Critical</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Bitcoin Faces “Long Overdue Pullback”, Expert Suggests That This BTC Level Will be Critical

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