BTCUSD - Potential Daily ForecastBitcoin / U.S. dollarBITSTAMP:BTCUSDMichael_Harding== Technical Outlook == Looking at recent price action, we saw a strong bullish impulse from around the $86,000 level up to the $94,000 level. Following today's disappointing ADP jobs figures from the US, we observed continued gains in the greenback due to risk-off sentiment. Nasdaq and gold prices also declined after the report, as it reinforced conviction that the Fed will refrain from slashing interest rates, in line with Powell's recent statements. Bitcoin is currently finding support at the 50% Fibonacci level, with a strong demand zone around the $90,000 level. If we see another bullish impulse to the upside, this could break through the resistance at $94,000 and potentially push prices back up to the $100,000 level. == Fundamental Backdrop == The split vote and Chair Jerome Powell’s carefully calibrated tone made clear that policymakers are in no rush to accelerate the easing cycle. Officials want greater confidence that the labor market is cooling in an orderly way and that inflation, which Powell described as “still somewhat elevated,” is on a convincing path back to target. During the press conference, Powell stressed that the Fed feels well positioned to respond to incoming data, but he offered no hint of an imminent follow-up cut. At the same time, he firmly dismissed the idea of rate hikes, which he said do not feature in the baseline outlook. On inflation, Powell pointed directly to import tariffs introduced under President Donald Trump as a key factor keeping price pressures above the Fed’s 2% target for now, reinforcing the sense that some of the inflation overshoot is policy-driven rather than demand-led. With that said, markets will now focus on this Friday's jobs data. It's been common in the past to have a negative ADP report but a positive NFP, which is why we might not see Bitcoin continue to sell off heading into this Friday's report.