Bitcoin Quiet Ahead of FOMC

Bitcoin caught a bit of a pivot from $18.6K, which has provided strong support before. It held strong again as Bitcoin tested it with another dump from $19.5K. Strong support was confirmed with green triangles on the KRI. We made another run for $19.5K, but this was immediately rejected, as we mentioned in yesterday mornings report. It is unlikely BTC will have the strength to break this level any time soon, but if it does, then $20.7K is the next target. If we dump again, $18.6K should hold but if not, then $17.6K should be considered an absolute floor. Watch for ranging before the FOMC at 2 PM EST.