Bitcoin (BTC), which is traded in a short price range with the slowdown of the news flow in the industry, has not made a move yet.
The crypto money market, which has been pricing with the news effect for a long time, went on hold with the cessation of this effect. ETF news was one of the first factors that triggered BTC. Subsequently, being the leading name in the SEC lawsuit by Ripple, the BTC and altcoin market has moved up to a large extent. However, a recession began in cryptocurrencies with the stagnation of positive news. How is the price structure for BTC going?
Bitcoin (BTC) Chart Analysis
Thanks to the back-to-back positive news flow for Ripple, BTC, which broke the resistance levels, came from $ 30,200 to $ 31,800. BTC, which started to fall from the $ 31,800 resistance, created panic in the market by testing below $ 30,000. BTC, which is currently around $ 29,940, can set off towards $ 32,400 – $ 33,380 and $ 34,000, respectively, as long as it breaks above $ 31,400.
The continuation of the volume sales on the BTC side or the negative news from the industry may continue to shake the price. Support zones to watch for BTC in this scenario are $29,550 – 28,900 – 28,430 – $27,800 and $27,440, respectively. Failure of the price to protect $27,440 – $27,250 could open the way for declines to $25,200.
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