The price of Bitcoin (BTC) failed another attempt to break the resistance of USD 85,000 on March 17.

Bitcoin remains in the Land No Man’s Land in the lower time frame (LTF) of the 1-hour chart. This term on trade markets is defined as a price range, in which movements are characterized by uncertainty, significant risk and lively tension due to external events and contradictory market moods.

After the meeting of the Federal Committee of the Open Market (FOMC), which will take place on March 18-19, the markets could see unstable price fluctuations towards the key levels of BTC prices in the next few days. The critical announcement of the interest rate will be issued on March 19 at 14.00 et.

99% chance of interest rates will not change

According to CME Fedwatch toolThere are 99% chance that the current interest rates will remain between 4.25% and 4.50%, leaving only 1% probability of 0.25% reduction.

However, the joint conviction of the market is that every price bears from unchanged interest rates are already valued.

Related: Bitcoins price is not parabolic when the American dollar index (DXY) falls – why?

That is why the market focuses on Jerome Powell, the Fed Fed chair speech during the FOMC speech. In relation to the last data, Powell’s attitude will probably be Jastrzębia. The assessment is based on the following points:

• The consumer price indicator (CPI) remains at the level of 2.8%, which is still above 2%of the main Fed target, and the personal consumption price rate (PCE) was 2.5%-2.6%. While CPI became lower than expected last week, it does not encourage immediate reduction of rates.

• Data on unemployment remain low at 4.1%, with an annual GDP growth by 2.3% in Q4 2024, which indicates that the economy does not need an immediate stimulus.

Meanwhile, PolyMarket now claims that there is a 100% chance that the US Federal Reserve will end the quantitative exacerbation (QT) by April 30, which will raise the chances of reduction of the rate this summer.

Key levels of bitcoin prices to watch

Bitcoin must transfer a resistance level of USD 85,000 to support to focus the higher maxim at USD 90,000.

For this to happen, BTC/USD must first recover its position above the 200-day interpretation average (orange line) on a 1-day chart. The BTC price has fallen below the 200-day EMA on March 9 for the first time since August 2024.

One positive bull catalyst could be extended by the demand from ETF Bitcoin. March 17 ETF Bitcoin registered 274 million dollars of influx, largest from February 4.

Meanwhile, bears will try to maintain the resistance of USD 85,000, increasing the likelihood of novel minima below USD 78,000. The direct goal below the previous range is 74,000 USD, i.e. the previous level in history from the beginning of 2024.

Below USD 74,000, the next key interest area remains from 70,530 to 66 810 USD, with a daily order block. Achieving $ 69 2,72 would be a re -price on the day of elections in the USA, removing all the profits of the “Trump pump”.

SuperBitcoinbro, anonymous BTC analyst, Review of the most essential events This “worst case” scenario for Bitcoin is 71,300 USD and 73,800 USD, which can be potential support from everyday to quarterly.

Similarly, Nebraskangooner, another popular Bitcoin analyst, says That FOMC is a wild card, explaining that BTC must recover USD 86 250 to confirm the stubborn scenario in the lower time frame.

Related: “Bitcoin Bull Cycle is over” – warns Cryptoquant, citing onchain indicators

However, as shown in the charts, it expects a possible re -test near USD 70,000 in the next few weeks.

This article does not contain investment advice or recommendations. Each investment and commercial movement involves risk, and readers should conduct their own research when making decisions.