I think Bitcoin is sitting at a pretty important level here.

We've had a decent bounce off the lows, but now we're running back into an area that previously acted as resistance.

For me, this is the key thing to watch.

If we can break back into that range and hold it, then I think there's a good chance we see a larger move higher.

If we can't, then I wouldn't be surprised to see price roll over again.

The other reason I'm paying so much attention to this level is because FOMC is today.

I think whatever happens over the next few hours will probably set the tone for Bitcoin over the next couple of weeks.

We're at a tipping point here.

Now we wait and see what the Fed gives us.