Bitcoin’s price is facing heavy resistance around $86,000, with bulls unable to push past it following Fed Chair Jerome Powell’s hawkish comments on April 16. Powell dismissed hopes for early rate cuts, citing uncertainty from Trump’s tariff policies and ongoing inflation concerns.

Despite several attempts since April 9, $BTC has failed to close above $86K, remaining locked in a tight range. On-chain and macro analysts warn that unless Bitcoin reclaims key technical levels, deeper corrections could follow.

What’s Next for BTC?

  • Immediate resistance: $86,000

  • Major breakout zone: $87,740 (200-day EMA)

  • Next bullish target: $90,000–$91,240

  • Key support levels: $76,000, $74,000

  • Worst-case retrace: $67,817–$65,000

Polymarket bettors currently price in an 88% chance of interest rates staying flat, with just a 10% chance of a rate cut. Meanwhile, there’s a 46% chance BTC hits $90K by April 30, and a less than 5% chance of surpassing $110K.

On-chain analyst James Check sees the true market mean for Bitcoin near $65,000, warning that if bulls can’t hold $75K, the next leg down could erase all gains from the recent “Trump pump.”

With macro headwinds in play, the $86K zone remains a critical battleground for Bitcoin’s next move.

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