Bitcoin price levels to watch as Fed rate cut hopes fade

After Fed Chair Powell’s comments, BTC price is in a tug-of-war between bulls and bears, with major resistance overhead and several key support levels below $86K.

Bitcoin’s (BTC) price failed another attempt at breaking above resistance at $86,000 on April 16 as  Fed Chair Jerome Powell dashed hopes of early rate cuts, citing the impact of Trump’s tariffs.

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

Many analysts and traders ask, “Where is Bitcoin price headed next?” as the asset remains stuck in a tight range on the lower time frame (LTF) of the 4-hour chart.

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