Bitcoin Awaits the Fed

🟡Bitcoin is trading in a narrow $112,000–$117,000 range, reflecting investor caution ahead of key September events. A recent attempt to break above the descending trendline failed, sending the price back toward critical levels. Support is clustered around $112,000, where buyer activity could intensify, while $117,000 now acts as strong resistance.
🟡Analysts note that the upcoming Jackson Hole forum is unlikely to have a major impact on the market. Instead, attention is focused on the Fed meeting on September 17, which could act as a catalyst for Bitcoin’s breakout from the current range. Until then, volatility remains low, with traders waiting for a clear signal to fuel the next move.