The Fed's potential interest rate hikes could pressure Bitcoin, but if the Fed pauses, $BTC
may see growth in the near future.
BTC/USDT is currently trading around 58,497 USD, following a downward trendline with a target at the 52,500 USD support level before rebounding.
The EMA 34 and EMA 89 create short-term resistance zones, hindering BTC's price increase.
If BTC continues to decline to the lower trendline and then rebounds, traders might consider entering a buy position with a target to take profit at the 65,400 USD resistance zone.