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CoinStats

The $65,500 range support we were watching has now been lost. That's the first meaningful change on the chart. Earlier, I said Bitcoin was sitting at a decision point ahead of FOMC. We're now starting to get that answer. As things stand, Bitcoin is trading below range support, while local resistance remains at $66,850. For me, the key level now becomes $63,500. That's the next major support on the chart and the level I'd be watching if downside momentum continues. On the flip side, Bitcoin still needs to reclaim $65,500 and then push back above $66,850 before I'd start paying attention to higher targets again. FOMC is still the main event. But so far, the range has broken lower.

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