🚀 Will Bitcoin Survive Powell’s Speech? Spoiler: It’s a Rollercoaster! 🎢

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Oh, Bitcoin (BTC), you dramatic diva! You almost hit $112,000 again on Thursday, but then you were like, “Nah, I’m good,” and bounced back. Now, everyone’s waiting with bated breath for Fed Powell’s speech today. Will he hint at rate cuts? Will he crush our dreams? Either way, buckle up, because volatility is about to hit us like a boss in a rom-com. 🍿

💪 $BTC: The Bounce Heard ‘Round the Crypto World

So, $BTC decided to flex its muscles and bounce off that $112,000 support level like it’s a trampoline. Not only that, it broke through the downward trendline with more swagger than a Tina Fey monologue. But let’s not get too excited-this rally could turn into a faceplant faster than you can say “mean girls.”

Here’s the tea: there’s a potential double bottom pattern (fancy, right?), and the RSI is acting like it’s found its soulmate. Could this be the start of a beautiful bounce? Or is it just crypto playing hard to get? 🤷‍♀️

But let’s not forget, the crypto market is still in its “I’m not crying, you’re crying” phase, thanks to bearish sentiment. And if Jerome Powell decides to be the Grinch today and rules out a rate cut, we might see $BTC dip below that $112,000 line. On the flip side, if Powell’s feeling generous, $BTC could take off like a rocket. 🚀 The plot thickens…

🤔 Inverse Head and Shoulders: To Be or Not To Be?

The daily chart is giving us an inverse head and shoulders pattern, but it’s on the brink of being invalidated. It’s like that friend who says they’re coming to your party but might bail last minute. Even if today’s candle closes below the neckline, it’s still kinda valid if it’s within 1-2%. But if it fully bails and goes lower, well, that’s a proper invalidation. If it holds, though, $150,000 is the target. Fingers crossed, but don’t hold your breath. 🙏

😬 Weekly Indicators: The Crypto Side-Eye

The weekly chart is like that friend who’s smiling but secretly judging you. The Stochastic RSI is heading south faster than a snowbird in December, and the MACD is about to cross lines like a bad breakup. The RSI? It’s rejecting the trendline like a reality TV star rejects a bad edit. And let’s not forget that potential M topping pattern-it’s the crypto equivalent of a dramatic hair flip. 💇‍♀️

Unless Jerome Powell pulls a rabbit out of his hat (or Bitcoin decides to go full superhero), this week’s closing isn’t looking great. But hey, it’s crypto-expect the unexpected. Over to you, Powell… 🎤

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2025-08-22 12:09