As the weekend approaches, the decrease in cryptocurrency trading volume becomes evident. Bitcoin and Ethereum remain focal points of investor interest.
Federal Reserve Week
We are entering Federal Reserve week, with an interest rate decision expected on March 19. The rates are likely to remain unchanged. However, recent PCE, PPI, and CPI reports may influence further decisions by the Fed. During Fed weeks, markets typically experience volatility, though positive data could prompt optimistic statements from Powell.
Experts' Predictions
Expert Jelle is pleased with reclaiming the $84,000 mark, noting that $96,000 is a key resistance for bullish trends. The current price of Bitcoin stands at $84,800. 'CITE_NA': 'After pushing $84,000 for a week, we’re back above it. We want to see this level hold over the weekend to aim for the next $90,000. If we reclaim this level, PO3 will come into play. That could be interesting.' Titan of Crypto noted a bullish signal on the four-hour chart, indicating that closing above $83,800 could lead to continued upward movement. However, he also warned about a potential rapid drop to $80,000 if conditions change.
Markets remain influenced by external factors, and attention is focused on the Fed's decision. Experts highlight the significance of current price levels for potential growth.
