- The cryptocurrency market remained in a holding pattern to close out the work week as investors await next week's policy decision from the Federal Reserve, with most analysts anticipating a 25 bps hike.
Data provided by TradingView shows that Bitcoin continues to trade near support at $30,000, where bulls and bears appear evenly matched in strength, resulting in stagnant price action.That could soon change, however, as Kitco senior analyst Jim Wyckoff warned that “bulls are fading a bit late this week,” before noting they “still have the slight overall near-term technical advantage but need to show fresh power soon to keep their chart edge.
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