Bitcoin Price Dip Ahead of Fed Decision

Bitcoin (BTC) experienced a slight pullback over the weekend, retracing to the $95,000 breakout level. Maintaining this level is crucial for continued bullish momentum. Meanwhile, several altcoins display promising chart patterns.

Bitcoin Price Prediction

Bitcoin’s recent surge above $95,000 faltered, with the price now resting at this key level. The 20-day EMA ($92,106) and a positive RSI indicate buyer strength. A rebound from the $95,000 - $92,106 zone could propel BTC/USDT towards $100,000. However, a break below the 20-day EMA suggests a potential drop to the 50-day SMA ($86,682).

Analyst Timothy Peterson predicts a potential BTC price of $135,000 within 100 days, contingent upon several factors including a decrease in the CBOE Volatility Index, lower interest rates, and strong performance in June and July.

Short-term: The 4-hour chart shows flattening moving averages and an RSI near the midpoint, indicating weakening momentum. A drop below $95,000 could lead to a descent towards $91,660, and potentially $86,000. Sustaining a price above $97,895 is critical for a return to bullish momentum and a potential rise to $107,000.

Altcoin Price Predictions

Hyperliquid (HYPE)

HYPE faces resistance at $21.50. The upsloping 20-day EMA ($18.48) and an RSI near overbought levels suggest upward potential. Breaking above $21.50 could propel HYPE/USDT to $27.50. Conversely, a drop below the 20-day EMA signals potential profit-taking, potentially leading to a decline to $17.35.

Aave (AAVE)

AAVE’s upward trend from April 30 suggests positive sentiment. The bulls aim for $196, though aggressive selling is expected at this level. Support at the 20-day EMA could facilitate a break above $196, leading to $240. Conversely, a break below the moving averages may result in a drop to $130.

Render (RNDR)

RNDR’s recent attempt to surpass $4.87 resistance failed. The 20-day EMA ($4.31) offers key support. A rebound from this level increases the likelihood of a break above $4.87 and a potential rise to $6.20. Conversely, breaking below $4.22 support may lead to a decline towards $3.55.

Fetch.ai (FET)

FET retraced from $0.84 resistance to the 20-day EMA ($0.65). A strong rebound from this EMA could push FET/USDT to $0.84 and potentially $1.09. However, a break below the 20-day EMA suggests a possible decline to the 50-day SMA ($0.54) and further to $0.60. Support at $0.67 is critical.

Market Outlook and Next Week

The Federal Reserve’s upcoming interest rate decision next week adds uncertainty to the market. While a rate cut is unlikely, the event will likely trigger a market response. Codeum provides smart contract audits, KYC verification, custom smart contract and DApp development, tokenomics and security consultation, and partnerships with launchpads and crypto agencies to help navigate this evolving landscape.

Disclaimer: This article does not constitute investment advice. All investment decisions involve risk.