Bitcoin, Ethereum Technical Analysis: BTC Back Above $19,000 Ahead of FOMC Meeting

Bitcoin, Ethereum Technical Analysis: BTC Back Above $19,000 Ahead of FOMC Meeting


Bitcoin was trading marginally higher ahead of Wednesday’s United States FOMC meeting, where it is expected that the Federal Reserve will increase interest rates. As inflation continues to remain at elevated levels, many anticipate the Fed will raise rates by over 75 basis points. Ethereum was also up, after briefly falling below $1,300 on Monday.

Bitcoin

Bitcoin (BTC) was marginally higher on Tuesday, as markets began to prepare for tomorrow’s Federal Open Market Committee (FOMC) meeting.

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BTC/USD hit an intraday high of $19,639.48 earlier in today’s session, as prices rebounded from losses to start the week.

The move came as bulls rejected an attempt to move below yesterday’s floor of $18,645, instead using this as a point of reentry.

Looking at the chart, today’s gains

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