Bitcoin traded at $116,236 as of 14:04 UTC on Sept. 17, up about 1% prior to now 24 hours, holding above a key degree as markets await the Federal Reserve’s coverage announcement.

Analysts’ feedback

Dean Crypto Trades famous on X that bitcoin is barely about 7% above its post-election native peak, whereas the S&P 500 has risen 9% and gold has surged 36% throughout the identical interval. He stated bitcoin has compressed greater than these belongings, making it more likely to lead the following bigger transfer, although it may type a “decrease excessive” earlier than extending additional. He added that ether may take part as soon as it breaks $5,000 and enters value discovery.

Lark Davis pointed to bitcoin’s historical past round September FOMC conferences, saying each September choice since 2020 — besides throughout the 2022 bear market — has preceded a powerful rally. He confused that the sample is much less concerning the Fed’s price alternative itself and extra about seasonal dynamics, arguing that bitcoin tends to thrive on this interval heading into “Uptober.”

CoinDesk Analysis’s technical evaluation

Based on CoinDesk Analysis’s technical evaluation knowledge mannequin, bitcoin rose about 0.9% throughout the Sept. 16–17 evaluation window, climbing from $115,461 to $116,520. BTC reached a session excessive of $117,317 at 07:00 UTC on Sept. 17 earlier than consolidating.

Following that peak, bitcoin examined the $116,400–$116,600 vary a number of occasions, confirming it as a short-term help zone. Within the closing hour of the session, between 11:39 and 12:38 UTC, BTC tried a breakout: costs moved narrowly between $116,351 and $116,376 earlier than spiking to $116,551 at 12:34 on larger quantity. This confirmed a consolidation-breakout sample, although the positive factors had been modest.

Total, bitcoin stays agency above $116,000, with help round $116,400 and resistance close to $117,300.

Newest 24-hour and one-month chart evaluation

The most recent 24-hour CoinDesk Knowledge chart, ending 14:04 UTC on Sept. 17, reveals BTC at $116,236 after retreating from intraday highs close to $117,295. The value has consolidated within the $116,000–$116,500 band, underscoring short-term help.

The one-month chart reveals bitcoin climbing from lows close to $108,000 in late August to latest highs above $117,000. The pattern stays upward, although the previous few periods present consolidation, suggesting the market is pausing earlier than its subsequent transfer.