Bitcoin recovered to $76,362 after briefly falling below $75,000, with improving four-hour momentum and concentrated liquidity around $77,000 suggesting a possible short-term rebound.
The cryptocurrency was up about 0.2% at the time of writing, having traded between $76,055 and $76,774, according to crypto.news data. It has since consolidated broadly between $75,000 and $77,000.
The move followed the Federal Reserve’s first interest-rate increase in three years. The central bank raised its benchmark range by 25 basis points to 3.75%-4.00%, while projections showed 16 of 18 officials expected at least one further increase before the end of 2026.
The decision had largely been priced into markets, helping Bitcoin avoid a sharper fall during Fed Chair Kevin Warsh’s press conference. Earlier selling had followed the U.S. Senate’s failure to advance the CLARITY Act. The procedural vote ended 49-50, 11 votes short of the 60 needed to begin debate. The bill proposed dividing digital asset oversight between the Securities and Exchange Commission and the Commodity Futures Trading Commission.
Technical picture remains mixed
Bitcoin remains below the daily Bollinger Band midpoint at $78,028, which is now the first major resistance level. It is also close to the lower band at $75,163, where the latest decline attracted buyers.
A daily close below that level could lead to a deeper correction, while the upper band at about $80,894 is near the broader resistance that limited rebounds earlier in September.
The daily RSI is 50.77, close to the neutral 50 mark, with its moving average at 57.62. Momentum has eased from the overbought conditions seen after Bitcoin’s late-August rally but has not reached oversold territory.
On the four-hour chart, the MACD histogram has turned slightly positive at 23.88. The MACD line is at minus 353.28 and the signal line at minus 377.16, indicating early improvement, although both remain below zero.
The four-hour Supertrend is still bearish at $78,596.72. A close above the $76,650-$77,000 area could open a test of $77,300 and then $78,600. Failure to clear $77,000 would leave $75,000 vulnerable again.
Traders focus on liquidation zones
The three-day CoinGlass liquidation heatmap shows heavy leveraged-position clusters around $76,800-$77,000 and $77,500-$78,000. Liquidity increases near $80,000, with further clusters towards $82,000.
Crypto trader Daan Crypto Trades said Bitcoin had removed most liquidity below the market when it swept the August lows. “The big clusters that are left in this range sit at $80K & $82K,” he said.
Crypto analyst Lennaert Snyder said holding $75,000 during the Fed decision supported a possible long setup, with recent falls having attracted short positions.
“I’m looking to scalp-long towards the 77.3K POC first, reclaiming that is the next bullish trigger that opens the door to my next targets up to the extremes at 78.5K,” Snyder said.
Snyder identified $74,500 as alternative support. A break below that level would bring the short-term holder cost basis near $71,300 into focus. Another strong liquidation band lies around $74,700-$75,000.
This article does not represent investment advice. Its content is for educational purposes only.
