Bitcoin swing traders took profits, and bears opened fresh shorts after BTC failed to recapture levels above $118,000. Will today’s FOMC presser kickstart a trend reversal in BTC and altcoins?
Key points:
Bitcoin’s failure to rise above $118,000 may have attracted profit-booking by short-term traders, resulting in a drop toward $107,000.
Several major altcoins turned down from their overhead resistance levels, signaling that the bears remain sellers on rallies.
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