With the asset management company BlackRock applying for a Bitcoin (BTC) ETF, activity in cryptocurrencies has been observed.
Announcing that he applied for an ETF last night, BlackRock became a medicine for the crypto industry. BTC, which has been in a downtrend for several days, created fear every minute it stopped below $ 25,000. The downside break of $25,250, a critical support level, increased the signs of weakness in the price. But the news of BlackRock’s ETF application, just in time for the market to turn to the upside, brought BTC from $24,900 to $25,760. What does this BTC-based spike show on the chart?
Bitcoin (BTC) Chart Evaluation
Priced in a falling trend since $28,200, BTC has set its sights on the trend again with BlackRock’s ETF application. Struggling around $25,000 for two days, BTC managed to get out of this region and over $25,250 with the news of the ETF. What are the critical levels for BTC, which has found buyers at $ 25,582 as of the writing of the news?
The primary support level to follow in BTC is $ 25,250. A break of $25,250, one of the decision prices, could open the way down to $24,586 and $23,200. If the rising structure continues and the falling trend is broken, a voluminous rise can be seen. The resistance levels that can be followed on behalf of BTC are 26,300 – 26,842 – 27,255 – 28,200 and 28,775 dollars, respectively.
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