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Bitcoin faces resistance near $67k, eyes on Fed decision
Bitcoin (BTC) is currently trading at $66,799.80, having opened at $67,374.21 and hitting an intraday high of $67,518.60. The cryptocurrency found support at $65,842.50, with the 12-day moving average at $67,067.04 acting as a crucial level.
The market is closely watching the upcoming Federal Reserve rate decision, which is expected to have significant implications for Bitcoin. Recent remarks by former President Donald Trump, expressing support for Bitcoin at a major conference, have added to the bullish sentiment.
Bitcoin's price action suggests it is facing strong resistance near the $67,000 level. A break above this resistance could pave the way for further gains, while a failure to do so might see the cryptocurrency retesting lower support levels. Traders should keep an eye on the Fed's decision and its impact on market dynamics.
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