Bitcoin price levels to watch as Fed rate cut hopes fade Trending Global News

Another attempt to break the resistance at $ 86,000 on April 16, the price of bitcoin (BTC), failed as Fed Chair Jerome Powell expected to cut the initial rate, citing the impact of Trump’s tariff.

Since 9 April, BTC price has formed a daily candle height between $ 75,000 and $ 86,400, but has been unable to produce above $ 86,000.

Many analysts and traders ask, “Where is the price of bitcoin ahead?” Since the property gets trapped in a tight range at the bottom of the 4-hour chart (LTF).

88% chance interest rate unchanged

Polymercate bookie Tell 88% is likely that the current interest rates will remain between 4.25% and 4.50%, causing 10% probability to cut 0.25%.

However, a general market belief is that the price action of any recession from unchanged interest rates is already priced.

On 16 April, US Federal Reserve Chairman Geom Powell indicated that the fed was not running to cut interest rates. Speaking in Chicago, he emphasized the approach to “waiting-and-look” before adjusting the policy.

Powell highlighted risks from President Trump’s tariffs, which could increase inflation and slow growth, possibly to create a “challenging landscape” for the steady value of the fed and a double mandate of maximum employment.

“The level of increasing tariffs declared so far is much larger than anticipated,” Said Powell in a speech, adding:

“Economic effects are likely to be true, including high inflation and slow growth.”

He emphasized maintaining a restrictive policy to ensure that inflation is not released, suggesting any immediate rate cut despite market volatility and tariff uncertainties.

Connected: Bitcoin Gold Copcat Move May Top $ 150K BTC remains ‘impressive’

As a result, President Trump has threatened Powell with termination, They argue He is “always too late and wrong” and that his 16 April report was a specific and full “mess”.

“Powell’s termination may not come up enough!”

Meanwhile, now polymercate They say There is a possibility of 46% that the price of bitcoin will hit $ 90,000 on April 30, with less than 5% likely to kill a new all-time high above $ 110,000.

To see the main bitcoin price level

Bitcoin should flip in support to target the high level of $ 86,000 resistance level at $ 90,000.

For this to happen, BTC/USD should re-achieve its position at $ 87,740 above the first 200-day exponential moving averages (purple line). The trendline was first lost on 9 March after August 2024.

Above this, there is a major supply area that extends to $ 91.240 all the way, where SMA of 100-day sits. Bulls will also have to cross this obstacle to increase BTC’s run to $ 100,000.

Conversely, the bears will try to place $ 86,000 resistance, which will increase the chances of new climb under $ 80,000. A major area of ​​interest is between $ 76,000 and the previous range is at $ 74,000, ie, from March 2024 the previous all-time high.

Below this, the next step will be worth the US Election Day price of $ 67,817, which will erase all the benefits made from the so -called Trump pump.

Onchain analyst James Czech suggests that True Bottom of Bitcoin lies on its “True Market Pisces” – the average cost base for active investors – around $ 65,000 area.

Czech said in an interview, “$ 75,000 zone is an area where you want bulls to mount a defense.” TFTC PodcastAdd:

“If they don’t, the next step is that we go back to the Chop Integration Border, we find out how deep we are, and the flag in the sea of ​​sand is $ 65,000.”

Interestingly, this price level closely aligns Michael Siler’s strategy costs, which sits approximately $ 67,500.

There are no investment advice or recommendations in this article. Each investment and business move include risk, and readers should conduct their own research while taking decisions.