Bitcoin price continues to consolidate within a defined ascending symmetrical triangle, signaling an imminent breakout. With the Fed’s potential rate cut adding a layer of speculation, market attention remains heightened. Consequently, both technical and macro drivers are beginning to align, creating anticipation for the next decisive move.
Bitcoin Price Action Builds Toward Symmetrical Triangle Breakout
Bitcoin price is currently trading at $112,236, maintaining its structure inside an ascending symmetrical triangle. The lower support trendline has held firmly near $107,304, while resistance looms around $117,156 at the 0.618 Fibonacci level.
A breakout above this range could confirm bullish continuation, pushing BTC price toward $123,731, which marks the 1.0 Fibonacci extension.
Beyond this, the chart points to $133,882 at the 1.618 extension as the next significant hurdle. However, consolidation remains possible, with a pullback toward the triangle midpoint providing healthy resets. The RSI currently reads 49.75, positioned above the signal line at 43.98, which provides a bullish confirmation aligned with the chart structure.
Expansion to higher zones remains possible, with the 2.618 Fibonacci level at $150,309 reinforcing a positive long-term BTC price outlook. The triangle formation, once resolved, could decide whether BTC establishes fresh record highs into year-end.
Trump’s Bold Call For 100 BPS Fed Cut Shifts Focus
Donald Trump has reignited debate over monetary policy, pressing the Federal Reserve for a deep 100 basis points cut ahead of the FOMC meeting. He criticized Jerome Powell for acting too late, echoing views from Greg Faranello and Jay Hatfield that the Fed relies on outdated metrics.
Trump argued that Powell’s rigid 2% inflation target has constrained flexibility, worsening economic strain. The weak August jobs report, showing just 22,000 new positions versus 75,000 expected, further supported his claims. Unemployment now sits at 4.3%, a four-year high, strengthening arguments for aggressive easing.
While markets still price in a smaller 25 bps move next week, Trump’s stance has amplified speculation. His push for multiple cuts over the coming months has drawn attention, with some suggesting such moves could provide an indirect boost to Bitcoin price.
Adding to the bullish narrative, Metaplanet has announced plans to use $1.4 billion from its upsized capital raise to purchase Bitcoin, expanding its reserves significantly. As uncertainty builds, BTC price remains highly sensitive to these macro and institutional shifts.
To sum up, Bitcoin price is preparing for a breakout from its ascending triangle, with targets set well beyond $130K. A confirmed move above resistance could accelerate the climb toward $150K, supported by bullish technicals. Trump’s aggressive Fed stance adds fuel to the narrative, giving BTC price additional macro tailwinds.
Frequently Asked Questions (FAQs)
It signals tightening price action that often leads to a decisive breakout, either upward or downward.
He believes the Fed acted too late, relying on outdated metrics, and argues aggressive cuts are needed to ease economic strain.
By allocating $1.4B to Bitcoin purchases, Metaplanet expands institutional adoption and strengthens long-term reserve demand.
Coingape Staff
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