Bitcoin Dips Below $94,000 As Traders Eye Potential Short-Term Top

Bitcoin BTC/USD is down 0.5% over the past 24 hours as traders eye a potential local top one day before the Federal Reserve announces its interest rate decision

What Happened: Crypto trader Astronomer said on Tuesday there's a chance Bitcoin may form a short-term top around the FOMC meeting.

He cautions this signal is weak by itself and shouldn’t trigger trades without supporting data.

The keyword is "may," reiterating his approach of acting only on firm signals and logic-based setups.

While FOMC events have historically triggered >85% accurate reversals, this time the strong quarterly uptrend could override that pattern.

Astronomer estimates a 76% probability that BTC continues upward from current levels, with a 24% chance of a shallow pullback.

He warns against shorting here or prematurely exiting longs, framing any dip as a "compound opportunity" rather than a reason to panic.

The strategy remains focused, mentally prepared, and rooted in strong trade management consistent about earlier theories on price mechanics and stop-loss design.

Also Read: Corporations Will Pour $330 Billion Into Bitcoin By 2029: Bernstein

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What's Next: Crypto trader Titan of Crypto notes BTC is consolidating between last week's high and low ahead of the FOMC decision and Fed Chair Jerome Powell's speech.

The daily MACD has flipped bearish, suggesting momentum may be fading.

PattaTrades highlights that Bitcoin is trading back within a six-day composite range from before the monthly close.

He's eyeing a potential sweep below $63,850 for long liquidations before entering new longs.

He expects muted volatility until after the FOMC, with range-bound setups preferred in the short term.  

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