Bitcoin pushes towards new highs, the Fed will provide the key signal

BTCUSD is correcting after its recent rise ahead of signals from the Federal Reserve. The current Bitcoin price is 77,293. Discover more in our analysis for 24 August 2026.

BTCUSD forecast: key takeaways

• The market is focused on Federal Reserve Chairman Kevin Warsh's upcoming speech at Jackson Hole on 28 August
• The US administration continues to advance legislation on the cryptocurrency market structure
• BTCUSD forecast for 24 August 2026: 80,850 and 76,450

Fundamental analysis

Today, Bitcoin is trading near 77,393 USD, forming a correction after a sharp rise. Buyers remain in the lead, while the market is awaiting new macroeconomic drivers.

A weaker dollar and expectations of looser monetary policy are creating a favourable environment for risk assets. The market is also focused on the upcoming speech by Federal Reserve Chairman Kevin Warsh at Jackson Hole on 28 August. His comments could influence expectations for an interest rate adjustment in September.

The US administration continues to advance legislation regulating the cryptocurrency market, including the Clarity Act, while the CFTC is working to establish clearer rules for digital assets. Reduced regulatory uncertainty could potentially make it easier for banks, asset managers, and corporations to participate in the Bitcoin market.

Despite positive capital flows, US inflation remains above the Federal Reserve's target, while Treasury yields are elevated. Geopolitical and trade risks also persist. Therefore, further easing of financial conditions cannot yet be taken for granted.

The BTCUSD forecast for 24 August takes into account that the main factors supporting Bitcoin are renewed capital inflows into Bitcoin ETFs, a weaker dollar, expectations of Federal Reserve policy easing, and progress on crypto regulation in the US. The main risk to further growth is a more hawkish Federal Reserve stance and persistently high US bond yields.

Technical outlook

On the H4 chart, BTCUSD formed a Hammer reversal pattern near the middle Bollinger Band. At this stage, the price may continue its upward wave as this signal plays out, with the upside target at the 80,850 resistance level. A breakout above this mark would open the way for further growth.

At the same time, the BTCUSD forecast for 24 August 2026 also suggests another scenario. The price may form a corrective wave and test the 76,450 support level. After rebounding from this mark, it could continue its upward trajectory.

BTCUSD overview

• Asset: BTCUSD
• Timeframe: H4
• Trend: bullish
• Key resistance levels: 79,360 and 80,850
• Key support levels: 76,460 and 75,000

Bitcoin trading scenarios for today

Main scenario (Buy Stop)

A breakout and consolidation above the 79,360 USD resistance level would confirm continued upward momentum in BTCUSD and create conditions for a move towards the next target.

• Current price: 77,293
• Take profit: 80,850
• Stop loss: 79,260

The trade idea is valid until 12:00 AM, 28 August 2026

Alternative scenario (Sell Stop)

A breakout and consolidation below the 76,460 USD support level would indicate weakening buying pressure and a correction towards the next support zone.

• Current price: 77,293
• Take profit: 75,000
• Stop loss: 76,510

The trade idea is valid until 12:00 AM, 28 August 2026

Risk factors

The main risk to the BTCUSD upside scenario remains buyers' failure to consolidate above the 79,360 zone. Additional pressure could emerge from hawkish signals in the FOMC minutes, a stronger dollar, or another rise in energy prices. At the same time, a softer inflation backdrop and renewed inflows into spot BTC ETFs could support further Bitcoin growth.

Summary

BTCUSD fundamental analysis for today favours Bitcoin. After the correction, the Bitcoin price may continue its upward momentum amid a weakening USD.

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