🚨 BTC Evening Market Update: Caution Prevails
Bitcoin ($BTC) is currently consolidating around the $$$90,000 - $$$91,000 range, showing a slight pullback this evening after failing to decisively break key resistance earlier in the week.
Key Takeaways:
Resistance Check: $BTC was firmly rejected at the $$$94,253 Fibonacci level, signaling that medium-term selling pressure remains strong.
Fed Reaction: The market is still absorbing the recent Fed rate cut, which was followed by a sharp drop below $$$90,000 earlier today, indicating disappointment in the forward guidance.
Technical Watch: The Daily RSI is trending down, reinforcing a cautious technical outlook. Traders are watching for a stable hold above the psychological $$$90,000 mark.
Next Support: If $$90,000 fails to hold, the next major support zone technical traders are watching is around **$$85,569**.
The market sentiment is one of caution. Price action remains highly reactive to macro news. Stay vigilant and manage your risk!
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