Bitcoin quoted at $ 116,236 at 14:04 UTC on September 17, an increase of approximately 1% in the last 24 hours, maintaining above a key level as markets expect the Federal Reserve policy announcement.
Analysts comments
Dean Crypto Trades observed in X that Bitcoin is only around 7% above its local peak after the elections, while the S&P 500 has increased 9% and gold has increased by 36% during the same period. He said that Bitcoin has compressed more than those assets, which makes it likely to lead the next largest movement, although it could form a “lower maximum” before extending even more. He added that Ether could join once he breaks $ 5,000 and enters the price discovery.
Lark Davis pointed out the history of Bitcoin around the September FomC meetings, saying that each September decision since 2020, except during the 2022 bears market, has preceded a strong demonstration. He stressed that the pattern is less about the choice of the Fed rate and more about seasonal dynamics, arguing that Bitcoin tends to prosper in this period in the “Uptober.”
Technical Analysis of COINDESK Research
According to the technical analysis data model of Coindesk Research, Bitcoin increased approximately 0.9% during the analysis window from September 16 to 17, rising from $ 115,461 to $ 116,520. BTC reached a maximum of the $ 117,317 session at 07:00 UTC on September 17 before consolidating.
After that peak, Bitcoin tested the range of $ 116,400– $ 116,600 several times, which confirms it as a short -term support zone. In the last hour of the session, between 11:39 and 12:38 UTC, BTC tried a break: prices moved narrow between $ 116,351 and $ 116,376 before increasing to $ 116,551 at 12:34 in a higher volume. This confirmed a consolidation rupture pattern, although the profits were modest.
In general, Bitcoin remains firm above $ 116,000, with support of around $ 116,400 and resistance about $ 117,300.
Last analysis of the 24 -hour table and one month
The last 24 -hour Coendesk data picture, which ends 14:04 UTC on September 17, shows BTC to $ 116,236 after withdrawing from the maximum intradic about $ 117,295. The price has been consolidated in the $ 116,000 band– $ 116,500, which underlines the short -term support.
The one month table shows that Bitcoin rises from minimums about $ 108,000 at the end of August to recent maximums above $ 117,000. The trend remains up, although the latest sessions show consolidation, which suggests that the market is stopping before its next movement.
