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Bitcoin Goes on a Post-FOMC Rally to $63K

Written By: ChartChamp

September 19, 2024

Yesterday evening Bitcoin rallied to $62k, and today the price has climbed up higher to $63k. The markets have experienced a post-FOMC rally higher, and I have $60,700 as a key price level to monitor if there is a pullback. There are two trendlines, the red and yellow lines, that intersect there. Bitcoin has broken above the red resistance line after the 50 bps announcement, and the yellow trendline has been a key support level during this uptrend. There was a lot of volatility yesterday so I would still be careful for a swing back down today or this week.

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