Bitcoin's price is poised for a critical test this week, as the cryptocurrency market awaits the Federal Open Market Committee (FOMC) meeting and revised dot plot. The dot plot, which indicates potential rate cuts, has shifted from suggesting 2-3 cuts in March to a more conservative outlook of 1-2 cuts in June. This change may impact Bitcoin's price, which is currently trading at $65,965.

Renowned crypto analyst Ted shared his insights on the market, emphasizing the significance of Bitcoin maintaining its support level of $66,000. A break below this level could lead to increased selling pressure and potential liquidations. On the other hand, if Bitcoin can hold this level, it may indicate a short-term trend reversal.

The weekly ranges for Bitcoin and Ethereum reflect a cautious optimism among traders. Bitcoin is expected to trade between $65,100 and $74,100, while Ethereum may fluctuate between $3,388 and $4,025. The performance of US tech stocks, particularly the NASDAQ, which has hit new all-time highs, may also influence the crypto market.

The upcoming week will be crucial for Bitcoin and the broader crypto market, with the interplay of disinflation trends, Federal Reserve communications, key support levels, and external economic factors shaping the market's direction. Analysts believe that dips in the cryptocurrency market present buying opportunities, and a shift to more accommodative monetary policy may be on the horizon.

Additional factors to watch include the performance of Ethereum relative to Bitcoin, rate decisions from the Swiss National Bank and the Reserve Bank of Australia, and ETF flows. A shift in Ethereum's performance could lead to a catch-up with Bitcoin, while rate decisions may impact future monetary policy shifts. Slowing ETF flows last week may also rebound, supporting Bitcoin's price.

Overall, this week's events will be pivotal in determining the near-term trajectory of Bitcoin and the crypto market. Market participants are advised to keep a close eye on key indicators and events that may impact the market's direction.