Bitcoin Quiet Ahead of FOMC
Bitcoin caught a bit of a pivot from 18.6K, which has provided strong support before. It held strong again as Bitcoin tested it with another dump from 19.5K. Strong support was confirmed with green triangles on the KRI. We made another run for 19.5K, but this was immediately rejected, as we mentioned in yesterday mornings report. It is unlikely BTC will have the strength to break this level any time soon, but if it does, then 20.7K is the next target. If we dump again, 18.6K should hold but if not, then 17.6K should be considered an absolute floor. Watch for ranging before the FOMC at 2 PM EST.
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