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Bitcoin, Ethereum Technical Analysis: BTC Consolidates, Ahead of Pivotal FOMC Meeting – Market Updates Bitcoin News

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BTC stalls, as markets prepare for pivotal FOMC rate decision.

) was once again trading below $28,000, as traders consolidated recent gains ahead of the upcoming FOMC meeting./USD fell to an intraday low of $27,439.65 earlier today.

The move sees bitcoin move away from its recent nine-month high, ahead of tomorrow’s rate decision, which will likely lead to increased market volatility.One sign of this uncertainty comes as the 14-day relative strength index , which failed to move beyond a ceiling of its own. As of writing, the index is tracking at 71.47, which is marginally below a resistance level at 72.00.

has since risen back above $28,000 however, with price swings likely to persist throughout the course of the day.

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