Bitcoin blends below BTC levels in the amount of $ 85,000 to watch in advance FOMC

Bitcoin’s (BTC) The price failed another breaking attempt above resistance to $ 85,000 17. March. From 12. March, the BTC price formed a daily candle between $ 84,000 and $ 8500, but could not close above $ 84,600.

Bitcoin stays in “without man’s country” at the lower time frame (LTF) of 1-hour chart. This expression in trading markets is defined as a price list on which movements characterize uncertainty, significant risk and dynamic tension due to external events and conflicting market feelings.

With the meeting of the Federal Open Market Committee (FOMC) set to take place 18. By 19. Marta, markets could see volatile prices of rocks according to key levels of BTC prices in the next few days. The critical announcement of the interest rate will be executed in 19. March at 14:00 p.m. Et.

99% chance that interest rates will not change

According to CME Feventh ToolThere are a 99% chance that current interest rates will remain between 4.25% and 4.50%, leaving only 1% probability of 0.25% reduction rate.

However, the usual belief of the market is that in any bear prices of unchanged interest rates is already in price.

Related: Bitcoin price fails to go parabolic as US dollar index (DXI) – Why?

Therefore, the market is focused on Jerome Powell, the Speech of the US Chair During FOMC Speech. As for recent data, Powell’s attitude will probably be Hawkish. The assessment is based on the following points:

• Consumer price index (CPI) remains at 2.8%, which remains above the basic goal of FED and personal consumption (PCE) price index in the amount of 2.5% -2.6%. Although the CPI came lower than expected last week, it does not encourage lower termination of the feet.

• Unemployment data remains low from 4.1%, and the annual GDP growth of 2.3% in K4 2024, indicating the economy does not need the current stimulant.

Meanwhile, polymarket now says there is a 100% chance That the American Federal Reserve will complete quantitative tightening (KT) until 30. April, which would increase the chance that the rate has also decreased this summer this summer.

Key levels Bitcoin levels for viewing

Bitcoin must transfer the level of resilience to $ 85,000 in the support of targeting more high tall at $ 90,000.

In order to happen, BTC / USD must first regain its position above the 200-day exponential average average (orange line) to a one-day map. The price of BTC fell under the 200-day EME 9. Marta for the first time from August 2024. years.

One positive bull catalyzer could be renewed the demand from Bitcoin ETFS. 17. Marta, Bitcoin ETFS registered 274 million dollars of inflow, the largest of the 4th. February.

Bears, meanwhile, try to retain 85,000 resistance, increasing the probability of new arrays below $ 78,000. The immediate goal below the previous range range is at 74,000 dollars, ie. Previous all the time of high time since the beginning of 2024. Years.

Under $ 74,000, the following key areas of interest remain between 70,5030 and $ 66,810, with a daily account. Reaching from $ 69,272 would be re-installing a price from today in the United States, deleting all “Trump pump” winnings.

SuperbitCoinbro, Anonymous BTC analyst, Hajlaj If the “worst case” scenario for Bitcoin lies at $ 71,300 and $ 7,300, which can be potential support in every time frame from everyday to quarterly.

Similarly, Nebraskaungoner, another popular bitcoin analyst, say That the FOMC is a replacement sign, explaining that the BTC must recover $ 86,250 to confirm the Bikar scenario at the lower time frame.

Related: ‘Bitcoin Bull Cycle is complete,’ Criptokuant full warns, stating on onhain metrics

However, as illustrated in charts, it is expected to be reset near the $ 70,000 level in the next few weeks.

This article does not contain investment advice or recommendations. Any investment and trade of trading involves risk, and readers should conduct their own research when making a decision.