BTC, which has been in a downtrend in the past days, experienced an instant decrease to $ 19,770 with the increase of Fud news.
The rising trend of BTC in recent weeks has ended with the effect of Fud news. In the past days, the situations that started with the BUSD crisis and continued with the Silvergate cases had increasingly damaged BTC. BTC, which went into a downward trend, momentarily dropped to $ 19,770 on the “spot side” as it could not find enough buyers in the crypto market. In particular, the news of KuCoin’s lawsuit, which came as of last night, accelerated the decline on the BTC side.
Bitcoin (BTC) Chart Analysis
Looking at the hourly time frame for BTC, it broke the $22,630–21,945 level, which it had been accumulating for a while, to lower levels. Especially the Fud news chain, which came as of last night, has almost scared the crypto investor. The $21,490 level, which worked as a solid support and resistance in the past, could not hold the price and was accepted as the level where the collapse started instantly. The support point of BTC, which is at the current $ 19,970 level, is $ 19,560. In the case where the bullish scenario is active, it is important to exceed the $ 20,460 level.
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