$BTC

Following the last seven FOMC meetings, price has dropped significantly right after every single one.

What’s interesting is that going into the March meeting, we saw a very similar setup to what we’re seeing now.

Price pushed higher into the event, repeatedly sweeping the highs and building up large amounts of liquidity below.

That meeting marked the local top and was followed by a 13% correction, retracing most of the prior move.

Heading into today’s interest rate decision, all of these factors are in place again, with price now also sitting just below major HTF resistance, adding even more confluence to the downside scenario.

If this plays out similarly, we could once again be looking at a local top forming around this event.