Bitcoin exchanged $ 116,236 at 14:04 UTC on September 17, up approximately 1% in the last 24 hours, holding above a key level while the markets are waiting for the announcement of the federal reserve policy.
Analysts comments
Dean Crypto Trades noted on X that Bitcoin is only about 7% above its local post-electoral peak, while S&P 500 increased by 9% and gold jumped 36% during the same period. He said Bitcoin compressed more than these assets, which makes it likely to lead the next larger movement, although he can form a “lower” before expanding more. He added that Ether could join once he breaks $ 5,000 and enters the price discovery.
Lark Davis highlighted the history of Bitcoin around the FOMC September meetings, saying that each September 2020 decision – except during the 2022 bear market – preceded a solid rally. He stressed that the scheme concerns less the choice of rate of the Fed itself and more on the seasonal dynamics, arguing that Bitcoin tends to prosper during this period before “uptober”.
Technical analysis of Coindesk Research
According to the Technical Analysis Data Model of Coindesk Research, Bitcoin increased by around 0.9% between September 16 to 17, going from $ 115,461 to $ 116,520. BTC reached a session summit of $ 117,317 at 07:00 UTC on September 17 before consolidating itself.
After this peak, Bitcoin tested the beach from $ 116,400 to $ 116,600 several times, confirming it as a short -term support area. In the last hour of the session, between 11:39 am and 12:38 UTC, the BTC attempted an escape: the prices moved closely between $ 116,351 and $ 116,376 before pointing at $ 116,551 at 12:34 in higher volume. This confirmed a consolidation rupture model, although the gains are modest.
Overall, Bitcoin remains firm above $ 116,000, with support at around $ 116,400 and resistance nearly $ 117,300.
Latest graphic analysis 24 hours a day and a month
The latest Coindesk data table 24 hours a day, ending 2:04 pm UTC on September 17, shows BTC at $ 116,236 after withdrawing intraday summits nearly $ 117,295. The price has consolidated in the band of $ 116,000 at $ 116,500, highlighting short -term support.
The one -month graph shows that Bitcoin rose from $ 108,000 at the end of August to recent summits greater than $ 117,000. The trend remains upwards, although the last sessions show consolidation, suggesting that the market stops before its next move.
