While most of the old crypto money investors did not even know what the Fed was, today the Fed is the most followed element of the market with high inflation rates and moves from the Fed.
In the current situation, where the direction of the market has changed with the statements from the Fed, the tension is still at high levels during the day.
Due to Fed Chairman Powell’s statement during the day bitcoinIt is seen that there is a seller movement in .
Traded at $ 21,150 with a $ 200 decline in the last hours. BTC It has dropped 2.51% in the last 24 hours.
Looking at the chart, it can be seen that BTC has dropped below the red trend line, which is the important support line. Especially if the next 4-hour close is below this level, it may trigger harder decreases.
The most important support after the red support area is seen at $20,800. With the break of this level, a rapid decline can be seen up to the $20,000 line, which is the psychological support.
Especially in the red area or closes of 4 hours or more below $ 20,800, the way to be a stop can be preferred.
It should not be forgotten that due to Powell’s speech today, hard movements may come up or down. For this reason, it would be good to stay away from leveraged transactions during the day.
*Not investment advice.
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