Sep 22, 2025
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Bitcoin Faces Resistance as Dollar Strengthens; XRP Turns Bearish
DXY vs. BTC
- The Federal Reserve recently cut interest rates for the first time since December, signaling potential further easing.
- Despite this, the Dollar Index (DXY) ended the week with a bullish dragonfly doji pattern, indicating potential USD strength ahead.
- Historically, a strong USD corresponds with weakness in dollar-denominated assets, impacting broader risk markets like cryptocurrencies.
- Bitcoin (BTC) showed an indecisive Doji candle at a critical resistance trendline, hinting at bearish sentiment.
- On BTC's daily chart, trends suggest a potential move below the Ichimoku cloud, increasing downside risks.
- BTC support levels are at $114,473 (50-day moving average) and near $107,300, with $118,000 as a key resistance to overcome.
Ether (ETH) Range Breakdown
- ETH is below the lower end of a contracting triangle pattern on the daily chart, suggesting seller dominance and potential losses.
- Focus is on the Aug. 20 low of $4,062 and psychological support at $4,000, with $4,458 as a critical resistance level for bulls.
XRP's MACD Flips Bearish
- XRP's MACD indicator turned bearish on the weekly chart despite a recent ETF debut, indicating a downside bias.
- Price action suggests a return to the upper boundary of a descending triangle, with last week's breakout failing to maintain momentum.
Focus on the Fed Speak and PCE
- This week, multiple Fed officials, including Chairman Jerome Powell, will speak, potentially influencing interest rate expectations.
- Powell emphasized a data-dependent stance after last week's rate cut, suggesting cautious optimism for further easing.
- The U.S. core PCE index release on Friday is expected to show annual inflation at 2.7%, with core at 2.9% for August.