Bitcoin Holds 75,500-82,850 USD Range Ahead of Fed Decision

Bitcoin (BTC) is moving within a 75,500-82,850 USD range, with technical analysis indicating that HYPE has entered a correction phase after reaching an all-time high. Analysts note diverging trends for the two assets ahead of the U.S. Federal Reserve's September interest rate decision.

The Fed has scheduled its September 15-16 Federal Open Market Committee (FOMC) meeting and economic outlook release, with the interest rate decision set to be announced on September 16. Odeali reported that Bitcoin rebounded from a low of 57,820 USD on July 1 before forming this range, bounded by the 364-day moving average and an 82,850 USD resistance level at the top, and the 30-day moving average and range bottom at the base. The 82,850 USD figure equates to approximately 111.6 million KRW at a forex rate of 1347 won per dollar.

Analysts suggest Bitcoin must surpass both the 364-day moving average and the 82,850 USD resistance to confirm an upward breakout. Since reaching a peak of 126,200 USD in October last year, Bitcoin has been in a correction phase. Odeali noted that Bitcoin has moved below the 364-day moving average for about 307 trading days, indicating the medium-term downtrend has not yet reversed. However, Bitcoin recovered above the 182-day moving average on August 19 and attempted to reach the 364-day moving average on September 3, which Odeali classified as a positive signal in its rebound process.

Two scenarios were presented for the period before and after the Fed decision. If Bitcoin rebounds ahead of the announcement, it could see short-term gains but may face a pullback if resistance is not broken. Alternatively, if consolidation or minor corrections occur before the decision, a sharper decline might follow, though a rebound attempt near the 182-day moving average remains possible.

Key resistance levels for Bitcoin are cited as 81,700-82,850 USD, 84,500-86,500 USD, and 90,000 USD. Support zones are listed at 73,500-75,000 USD and 67,300-69,100 USD. Technical analysis indicates that moving averages track price trends over specific periods, while a trading range refers to prices fluctuating between defined upper and lower bounds.

HYPE's trend was assessed as weaker than Bitcoin's. HYPE rose from 51.11 USD on August 2 to an all-time high of 89.76 USD before declining. Odeali analyzed its upward phase in 14 segments on a 4-hour chart, noting momentum divergence near the peak where price strength weakened during ascent. HYPE subsequently fell below the 80 USD support level. Analysts identified 76-77 USD as the first support zone and 71.5-73 USD as the next, with resistance at around 90 USD.

The analysis emphasizes monitoring price movements near key support and resistance levels following the Fed decision. Market观望 (watchfulness) has intensified ahead of the interest rate announcement, with Bitcoin's breakout above the range top and HYPE's ability to hold near 77 USD being critical next milestones.