Bitcoin is less than $ 85K -The main BTC price level to see before FOMC

The price of Bitcoin’s (BTC) failed to attempt more than $ 85,000 on March 17. Since March 12, the BTC price has been formed from $ 84,000 to $ 85,200 every day, but could not close more than $ 84,600.

Bitcoin remains in the “No Man’s Land” on the low time frame (LTF) on the one -hour chart. The term in the trading market is defined as a price characterized by uncertainty, serious risk and dynamic tension due to external events and market sentiment.

Markets, which is scheduled to take place from March 18 to 19, has been able to see volatile price fluctuations at the next few days of the next few days. An important announcement on interest rates will take place at 2 pm on March 19.

99%opportunity interest rates do not change

According to the CME’s Fedwatch tool, the current interest rate is 99%likely to be maintained between 4.25%to 4.50%, and the 1%chance is only 0.25%.

But the belief in the general market is that all weak price behaviors of unchanged interest rates are already priced.

Related: Bitcoin prices fail as the US dollar index (DXY) drops. why?

As a result, the market focuses on Jerome Powell, the US Fed Chairman in the FOMC speech. POWELL’s position on recent data will be every day. Evaluation is based on the following:

• The Consumer Price Index (CPI) remains at 2.8%, which is still higher than the Fed’s 2%primary goal, and the Personal Sercture Independitities (PCE) price index was 2.5%-2.6%. While the CPI is lower than last week’s expected, it does not encourage immediate rate cuts.

• The unemployment data remains at 4.1%, and in the fourth quarter of 2024, the annual GDP growth rate is 2.3%, indicating that the economy does not need immediate stimuli.

Meanwhile, POLYMARKET said the US Federal Reserve Bank is 100%more likely to finish the quantitative tightening (QT) by April 30.

You can see the price level of core bitcoin

Bitcoin should support the highest at $ 90,000, supporting a resistance of $ 85,000.

To do this, BTC/USD must first recover the location of the 200 -day index moving average (orange line) in the first day chart. The BTC Price fell below the 200 -day EMA on March 9 for the first time since August 2024.

A positive catalyst for the bull can renew the demand for Spot Bitcoin ETF. On March 17, Bitcoin ETFS registered $ 224 million as the largest inflow since February 4.

Bears, on the other hand, will try to maintain a $ 85,000 resistance, increasing the new lowest possibilities of less than $ 78,000. The immediate goal at the bottom of the previous scope is $ 74,000, that is, from the beginning of 2024.

Less than $ 74,000, the next major area is from $ 70,530 to $ 66,810, with a daily order block. Reaching to $ 69,272 is deleting all the “Trump Pump” profits by re -examination of the US election day.

Anonymous BTC analyst Superbitcoinbro is at $ 71,300 and $ 73,800 in Bitcoin’s “worst” and can be potential support every day.

Similarly, Nebraskangooner, another popular bitcoin analyst, explains that FOMC is a wild card and BTC should find $ 86,250 to check the strong scenario at low time.

Related: Cryptoquant CEO warns while quoting onchain metrics.

But as described in the chart, he expects to reinvestable nearly $ 70,000 over the next few weeks.

This article does not include investment advice or recommendation. All investment and trading measures include risks, and the reader must do his own research when making a decision.