Bitcoin Dey Stall Under $120K Before Fed FOMC and Powell Speech
Bitcoin dey hold for below $120,000 as traders dey wait for Fed FOMC meeting plus Chair Jerome Powell talk, Polymarket data don show say e get 97.5% chance say rates no go change for 4.25–4.5%. Bitcoin dey range-bound so people dey sell before any soft signal fit drop but e fit make strong comeback if optimistic sign show. Key resistance na $120,000 and $125,000, Glassnode talk say if high-volume breakout happen, e fit target $141,000. On-chain metrics show short-term holders cost-base support at $105,400 and yearly open close to $93,000. If e drop through $114,000–$116,000, e fit fill $112,000 gap wey mean say na big liquidity cluster for traders. Market people go also dey watch US nonfarm payrolls and tariff deadlines for any catalyst, analysts dey expect say consolidation and volatility go continue round these support and resistance zones till after Powell talk.
Neutral
For short term, Bitcoin price go likely remain range-bound as investors dey wait Fed FOMC decision plus Powell talk, e go make directional momentum limited plus increase volatility inside set support and resistance levels. Traders go sharply watch liquidity clusters around $114,000–$116,000 plus potential reaction for key support near $105,400 and annual open at $93,000. For long term, if confirmed high-volume breakout pass $120,000–$125,000, e fit trigger bullish phase wey go target $141,000, but if e fail hold the levels fit lead to more downside to established cost-basis supports. Overall impact dey neutral until policy signal clear, market stability depend on Fed ton and US macroeconomic data.