Bitcoin: $64K Support Eyes CME Gaps at $74K
Bitcoin reclaims range above $66494.93 with $64000 support intact, targeting $74000 and $79000 CME gaps as FOMC and Hormuz events approach.
SourceAnalysis
Bitcoin has reclaimed its range and erased downside momentum, with $64000 now acting as the key line for longs according to @CryptoMichNL.
Falling oil prices and lower yields set the backdrop for this week's FOMC meeting and the Friday reopening of the Strait of Hormuz, events that could accelerate moves toward the unfilled CME gaps at $74000 and $79000.
On the 4h chart Bitcoin trades at $66494.93 above the EMA50 support at $64671.78 while the MACD golden cross at 825.42 keeps momentum constructive and RSI at 64.13 stays neutral, opening a path to the upper Bollinger Band resistance at $67491.16 before any deeper pullback.
Michaël van de Poppe
@CryptoMichNLMacro-Economics, Value Based Investing & Trading || Crypto & Bitcoin Enthusiast
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