Bitcoin price bounce rejected at 50-day trend line ahead of FOMC, earnings

Bitcoin could not break through a 50-day simple moving average, a technical gauge that tracks its average price over the preceding 50 days, as market participants awaited the result of the Federal Open Market Committee meeting and key technology earnings. The cryptocurrency held below that level rather than pushing higher. The FOMC meeting and the technology earnings were the pending events that market participants were monitoring alongside the price threshold.