Bitcoin provides under 85,000 US

The price of Bitcoin (BTC) was missing on March 17th another attempt to break the resistance of $ 85,000. Since March 12, the BTC Prize has formed Candle Highs between 84,000 and 85,200 US dollars every day, but was not able to close over 84,600 US dollars.

Bitcoin remains in the lower time frame (LTF) of the 1-hour diagram in “No Man's Land”. This term in commercial markets is defined as a price range in which movements are characterized by uncertainty, considerable risk and dynamic tensions due to uncertainty and contradictory market mood.

After the meeting of the Federal Open Market Committee (FOMC), which is due to take place on March 18 to 19, the markets could see volatile price fluctuations in the next few days in the direction of the most important BTC price level. The critical announcement of the interest rate will be met on March 19 at 2 p.m.

99% random interest rates will not change

According to CME FEDWATCH tool, there is a probability of 99% that the current interest rates remain between 4.25% and 4.50%, which means that only 1% remains a probability of 0.25% interest rate reduction.

A common belief in the market, however, is that all the bear's price campaigns from unchanged interest rates have already been rated.

Relatives: Bitcoin price is not parabolic, since the US dollar index (DXY) falls -why?

Therefore, the market focuses on Jerome Powell, the speech of the US chairman during the FOMC speech. With regard to the latest data, Powell's attitude should be Hawkisch. The assessment is based on the following points:

• The consumer price index (CPI) is 2.8%, which is still above the 2%price of the Fed, and the price index for personal consumption expenses (PCE) was 2.5%-2.6%. While CPI was lower than expected in the past week, it does not promote immediate installment cuts.

• The unemployment data remains at 4.1% low, with an annual GDP growth of 2.3% low in the fourth 2024, which indicates that the economy does not require immediate incentive.

In the meantime, Polymarket now exists that the US federal industry has a 100% chance that the US Federal Reserve will complete the quantitative tightening (QT) by April 30, which would already strengthen the likelihood of reduction in installments this summer.

Key Bitcoin price levels to be observed

Bitcoin has to surround the resistance level of 85,000 US dollars to support in order to operate higher heights with 90,000 US dollars.

In order for this to happen, BTC/USD must first recover its position above the 200-day exponential moving average (orange line) in the 1-day diagram. The BTC Prize fell under the 200-dayema ​​on March 9 for the first time since August 2024.

A positive catalyst for the bulls could be renewed by Spot -Bitcoin ETFs. On March 17th, Bitcoin ETFS registered 274 million US dollars of tributaries, the largest since February 4th.

The bears will now try to keep a resistance of 85,000 US dollars and to increase the likelihood of new lows below 78,000 US dollars. The immediate goal under the previous lows is $ 74,000, ie the previous all-time high from the beginning of 2024.

The next important interest rate area between 70,530 and 66,810 US dollars with a daily order block remains below 74,000 US dollars. The reaching of 69,272 US dollars would be a new price of the US election prices and deletes all profits from the “Trump pump”.

Superbitcoinbro, an anonymous BTC analyst, shows that the scenario “Worst Case” for Bitcoin is $ 71,300 and $ 73,800. This can be potential support from every time from daily to quarterly.

Similarly, Nebraskangooner, another popular Bitcoin analyst, says that the FOMC is a wildcard and explains that BTC 86,250 US dollars has to reclaim to confirm the bullish scenario in the lower time frame.

Relatives: “Bitcoin bull cycle is over”

As shown in the charts, however, he expects a possible repetition test near the level of $ 70,000 in the next few weeks.

This article does not contain investment advice or recommendations. Every investment and trade movement is the risk, and readers should carry out their own research results if they make a decision.