BTCUSD

Bitcoin is consolidating very close to the pivot level of $108,404.08 and is continuing its search for direction. Data that affects global risk appetite, such as the FOMC minutes to be released this week, could increase volatility in the cryptocurrency market. An increase in risk appetite may allow Bitcoin to break the resistance at $109,409.31 and move towards the level of $110,183.98. Conversely, a pullback could occur towards the support at $107,629.41. Below this support, the level of $106,624.10 will be an important stop.