Bitcoin’s (BTC) price failed another attempt at breaking above resistance at $85,000 on March 17. Since March 12, BTC price formed daily candle highs between $84,000 and $85,200, but has been unable to close above $84,600.
Bitcoin 1-hour chart. Source: Cointelegraph/TradingView
Bitcoin remains in “no man’s land” on the lower time frame (LTF) of the 1-hour chart. This term in trading markets is defined as a price range where movements are characterized by uncertainty, significant risk, and dynamic tension due to external events and conflicting market sentiment.
With the Federal Open Market Committee (FOMC) meeting set to take place on March 18-19, markets could see volatile price swings toward key BTC price levels over the next few days. The critical announcement on the interest rate will be made on March 19 at 2 pm ET.
99% chance interest rates won’t change
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