Bitcoin heads toward $40,000, as FederalReserve increases interest rates by highest level in 20-years.
Today’s rally was halted by a key resistance point of $39,800, which has historically been the main obstacle preventing prices entering $40,000.
Looking at the chart, this resistance coincided with another ceiling within the RSI indicator, as price strength was unable to move past 48.70. As we identified yesterday, this level of resistance would be an area of contention for both bulls and bears, and it seems that bears have so far won this battle.was also higher during today’s session, as the uncertainty surrounding the Federal Open Market Committee meeting finally passed.hitting a one-week high as a result.
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