What are the key support and resistance levels for Bitcoin ahead of Powell’s speech?

Bitcoin is currently holding above a crucial support level at $111,980, trading around $113,432. If BTC maintains this support and rises above the 50-day Exponential Moving Average (EMA) at $114,786, it could aim for the next resistance near $116,000 https://snapchatplanetsorders.com/bitcoin-ethereum-and-ripple-top-cryptos-brace-for-volatility-ahead-of-powells-speech/. Conversely, if it fails to hold the $111,980 support, Bitcoin might test the 100-day EMA at $110,605, which could indicate a deeper correction. The Relative Strength Index (RSI) is at 43, showing that bearish pressure is still present, and a move above the neutral 50 mark would be needed to confirm bullish momentum.