- Bitcoin’s price held steady on Tuesday as investors pared back their activity ahead of tomorrow's Federal Open Market Committee announcement, where the Federal Reserve will disclose its intentions on interest rates moving forward.
Data provided by TradingView shows that Bitcoin’s price continued to compress between $34,045 and $34,695, hinting that a breakout is on the horizon, with most analysts predicting that any major move will be to the upside.“November Bitcoin futures prices again a bit weaker in early U.S. trading Tuesday,” according to Kitco senior technical analyst Jim Wyckoff, who said the “recent price action has formed a bullish pennant pattern on the daily bar chart.
Among the list of notable macroeconomic reports this week are non-farm payrolls, the unemployment rate, average hourly earnings, labor force participation rate, initial jobless claims, manufacturing and service sector PMIs, and consumer sentiment and confidence.