Bitcoin traded at $ 116,236 per 14:04 UTC on September 17, which is approx. 1% over the last 24 hours and held over a key level when markets are waiting for the Federal Reserve’s political announcement.
Analysts’ comments
Dean Crypto Trades noted on X that Bitcoin is only approx. 7% above its local top after the election, while the S&P 500 has risen 9% and gold has risen 36% over the same period. He said Bitcoin has compressed more than these assets, making it likely to take the next major step, although it could form a “lower high” before he extends further. He added that ether could participate when it breaks $ 5,000 and enters the price discovery.
Lark Davis pointed to Bitcoin’s story around September FOMC meetings and said every September decision since 2020 – except under 2022 Bear Market – has preceded a strong demonstration. He emphasized that the pattern is less about Fed’s rate’s choice itself and more about seasonal dynamics, arguing that Bitcoin tends to thrive during this period heading into “up to”.
Coindesk Research’s technical analysis
According to Coindesk Research’s technical analysis data model, Bitcoin increased approx. 0.9% during the window 16 to 17 September and climbed from $ 115,461 to $ 116,520. BTC reached a session high at $ 117,317 at. 07:00 UTC on September 17 before consolidation.
After this top, Bitcoin tested $ 116,400- $ 116,600 range several times, confirming it as a short -term support zone. In the last hour of the session, between 11:39 pm and 12:38 pm UTC, BTC tried a breakout: Prices moved narrowly between $ 116,351 and $ 116,376, before spiking at $ 116,551 at. 12:34 on higher volume. This confirmed a consolidation outbreak pattern, although the winnings were modest.
Generally, Bitcoin remains fixed over $ 116,000, with support around $ 116,400 and resistance near $ 117,300.
Latest 24-hour and one-month card analysis
The latest 24-hour Coindesk data card ending 14:04 UTC on September 17, BTC shows $ 116,236 after withdrawing from intraday heights near $ 117,295. The price is consolidated in $ 116,000- $ 116,500 tape, which emphasizes short -term support.
A month’s chart shows Bitcoin climbing from low close to $ 108,000 at the end of August to the recent heights over $ 117,000. The trend remains upwards, though the last few sessions show consolidation, which suggests that the market pauses before the next move.
