Bitcoin price is in a tug-o-war between the bulls and bears ahead of the FOMC, with big overhead resistance at $85,000 in place and several key support levels below.
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.
