Bitcoin (BTC) Price Dips Below $94,000 as Investors Await the Fed's FOMC Meeting

The Bitcoin price edged down a fraction of a percentage in the last 24 hours to trade at $93,894 as of 4:01 a.m. EST

The price of Bitcoin (BTC) edged down a fraction of a percentage in the last 24 hours to trade at $93,894 as of 4:01 a.m. EST, while trading volume soared 4% to $20.1 billion.

This pullback by the BTC price comes as Bitcoin investor and trader Coinvo suggests on X that if history repeats itself, tomorrow’s Fed FOMC meeting could push BTC to $134K.

We have FOMC on Wednesday, and if history repeats itself, it could send $BTC straight to $134,000! 🤯

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Coin Heating Up For A Trend Continuation

Looking at the price chart of BTC on the 3-day timeframe, we can observe a strong bullish trend that has been contained within a rising channel since late 2023.

After reaching a peak above the $106,000 mark, the Bitcoin price action pulled back and found support around the $80,000 level, forming a rounded bottom pattern which might indicate accumulation and a potential continuation to the upside.

Most recently, the price of BTC has broken back above the key resistance-turned-support zone around $92,000, which suggests renewed bullish momentum.

Meanwhile, the 50 Simple Moving Average (SMA) is sloping upwards and currently sits just below BTC at $92,554, providing dynamic support. The 200 SMA is well below the current price of BTC at $65,811, which confirms the long-term bullish structure.

Furthermore, the Relative Strength Index (RSI) is currently at 57.22, showing an increase from the neutral zone without any signs of overbought conditions, which supports further upward movement.

Considering the breakout from the accumulation range, the overall bullish channel, and supportive technical indicators, BTC appears poised to retest and potentially break previous highs.

A move toward the $110,000 resistance zone seems probable if bullish momentum persists, assuming macroeconomic conditions and broader crypto sentiment remain favorable.

However, a drop below the $92,000 level would warrant caution, as it could invalidate the immediate bullish setup, possibly pushing the price of Bitcoin to the $78,878 level within the rounded bottom pattern.

Meanwhile, crypto investors are turning to BTC Bull Token (BTCBULL), a promising Bitcoin-themed meme coin project offering free BTC.

YouTube channel 99Bitcoins, which boasts over 725K subscribers, predicts 10X gains for BTCBULL Token holders after the token launches.

BTC Bull Token Races Towards $6 Million

In one of the strongest presale showings of the year, new meme coin BTC Bull Token just rocketed past $5.36 million in its ongoing presale.

BTC Bull Token introduces a unique approach by rewarding holders with Bitcoin airdrops each time BTC reaches a significant price milestone for the first time.

As Bitcoin marches toward the $1 million target, BTC BULL Token holders will get a piece of the action.

Investors who hold BTCBULL in Best Wallet will receive free BTC via airdrops when the Bitcoin price hits $150k and $200k for the first time.

There will also be a massive BTCBULL airdrop for the strongest hodlers when BTC hits $250,000, weighted by ”Community Sale purchase amount.”

In addition to BTC airdrops, the team will carry out token burns as well, aiming to follow Bitcoin’s footsteps and increase scarcity and value by permanently removing a portion of the total supply.

BTCBULL token holders can also earn passively by staking their tokens for a 77% annual percentage yield (APY).

Investors interested in participating in the presale can visit the official BTC Bull Token website to buy BTCBULL for $0.0025 each using BNB, ETH, USDT, or a bank card.

It’s best to buy BTCBULL before a price hike in about 3 days.