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Bitcoin Sees Tentative Breakout but FOMC Minutes Loom
Bitcoin (BTC) broke out overnight from a triangle pattern that has developed since December 20th. However, today’s FOMC meeting minutes at 2 pm EST promise to bring volatility, so caution is needed. Furthermore, Bitcoin has yet to clear the $16,900 handle, a resistance level that has held firm for the last two weeks. So a 4-hour and daily close above $16,900 is required to flip that area to support. Now, let’s talk about today’s rally during the Asia session. Asia-session moves in the crypto market tend to get partially, if not entirely, reversed once New York wakes up. We’re already seeing signs of that ... (full story)
