Cryptocurrencies started the week in a mixed sentiments as Bitcoin's attempts to rally above the key $25,000 resistance for the seventh time in the last seven days were halted by sellers. BTC is holding near $24,500, while Ethereum is trading at $1,700. Because the Wall Street is closed today (a holiday in the US), cryptocurrencies can consolidate and wait for a bigger market move.
It could come at 7 pm GMT on Wednesday (February 20) when the markets see the FOMC minutes. The potentially sizable number of central bankers favoring a 50bp hike ahead of the Fed's last decision (Powell decided on 25bp) may indicate that with better data coming in from the economy and labor market and a slower-than-expected decline in inflation, markets may price higher the odds for a 50bp hike in March putting pressure on risky assets, including cryptocurrencies.
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Open account Try demo Download mobile app Download mobile app- Filecoin gained because the implementation of Virtual Machine (FVM), which introduced smart contracts to the platform and enable the creation of decentralized applications (dApps);
Filecoin, H1 interval. The cryptocurrency has risen nearly 70% since Friday, however, it has failed to hold near $9.5 and is retreating toward $8 signaling a possible test of the 23.6 Fibonacci retracement level at $7.77 of the upward wave started on February 17. Source: xStation5
The so-called 'order book' of the Binance exchange for the BTC/USDT pair indicates that key support in the form of a 'bid wall' is located at $23,400. A potential battle between demand and supply could play out at these levels. Bulls want to take BTC above $25,000, but bears become active after almost every rise pushing the price down. Source: MaterialIndicators, Binance 
The profitability of Bitcoin miners is slowly returning to normal, make the supply pressure from them weaken. According to on-chain data, the selling trend reversed in January as the price rose, and miners finally began to keep more of the BTC they dug up (previously most of it was sold). Source: Glassnode
The 'hash' rate of the BTC network has reached its highest levels ever, and shows the exponential growth of the computing power of the Bitcoin network (more and more miners, more and more powerful hardware). Many industry analysts point out that historically the price of BTC has followed the leaping hash rate . Source: MiningPoolsStats, BTC.com
Bitcoin, M15 interval. Since mid-February, supply has repeatedly pushed the BTC price below $25,000. As a result, the price today falls below the 100- and 200-session moving averages (black and red lines) signaling potential weakness and is looking towards $24,200 i.e. the 23.6 Fibonacci retracement of the upward wave started on February 13. If sellers maintain their advantage, test of the lower Fibo levels is also possible. In the other hand if indices will be still strong, and BTC will consolidate at $24,000 level, the chance to cross above major resistance will be still at play. Source: xStation5
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