2023-1-5 14:35 |
Bitcoin price steadied above $16,800 as US Federal Reserve officials agreed to slow its pace of interest rate hikes.
The latest FOMC minutes indicate that US policymakers are focused on controlling the pace of price hikes.
Bitcoin could surge past the $17k resistance level soon.
BTC eyes the $17k resistance levelThe United States Federal Reserve recently released minutes from the Federal Open Market Committee for December. Fed members agreed that a restrictive policy stance would need to be maintained for now until the incoming data provided confidence that core inflation was on a sustained downward path back down to 2%.
This latest cryptocurrency news saw Bitcoin, the world’s leading cryptocurrency by market cap, maintain its price above the $16,800 level over the last 24 hours. It has lost less than 1% of its value, and the price of Bitcoin now stands at $16,834.
The broader crypto market is also recovering from its recent slump. At press time, the total cryptocurrency market cap stands at $819 billion, up by less than 1% in the last 24 hours.
Key levels to watchThe BTC/USD 4-hour chart is bullish as Bitcoin has held its ground above the 50-day Exponential Moving Average (EMA) at $16,714 over the last few days.
BTC/USD Chart By TradingView
The MACD line is above the neutral zone, indicating that the leading cryptocurrency has preserved its downward trend from the standpoint of realised price. The 14-day RSI of 61 also shows that more bulls controlling the market could see BTC enter the overbought region.
If the bullish momentum increases, BTC could surge past the first major resistance level at $17,145 over the next few hours. However, Bitcoin could struggle to surpass the second major resistance level at $17,485 in the short term, unless it gains support from the broader crypto market.
Where to buy Bitcoin now eToroeToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.
Buy BTC with eToro today Disclaimer
CoinbaseCoinbase is a global cryptocurrency exchange. Its platform is well designed for beginner investors and it offers a wide range of coins, as it has over 100 to choose from. Coinbase has high level security built into the platform, a range of diverse features to use and it offers its users options for storing their crypto, such as being able to store coins on the Coinbase exchange.
Buy BTC with Coinbase today Disclaimer
The post Bitcoin remains close to $17k after FOMC minutes release: Will BTC rally soon? appeared first on CoinJournal.
Similar to Notcoin - Blum - Airdrops In 2024
Bitcoin (BTC) на Currencies.ru
|
