Bitcoin silence after the Fed!

Bitcoin (BTC), which gained volatility with the announcement of the Fed interest rate decision, has not yet determined its course.
 Bitcoin silence after the Fed!
READING NOW Bitcoin silence after the Fed!

Bitcoin (BTC), which gained volatility with the announcement of the Fed interest rate decision, has not yet determined its course.

Announcing its interest rate decision by 25 basis points on July 26, the Fed created great activity in the crypto money market. Priced sharply between 29,000 – 29,700 during the day, BTC also greatly affected the liquidation data. However, cryptocurrencies, which paused after the announcement of the interest rate decision, have not yet decided in which direction to move.

Although the Fed’s move in the direction of the expectation momentarily carried the BTC price up, this situation could not be permanent. Testing a minor resistance level, BTC retraces an average of $500 and finds buyers at $29,188. Being able to exceed $29,500 and maintain it will create a positive outlook for both the BTC and altcoin market.

Bitcoin (BTC) chart analysis

The leader of cryptocurrencies, which started to withdraw from $ 29,700, is currently trading at $ 29,188. BTC, which is in the middle of the support-resistance zones, can be started to move towards $ 30,300 – $ 31,436 and $ 32,409, respectively, as long as it exceeds $ 29,700 in volume. In this process, the volatility created by futures at $31,000 can be decisive.

The failure of $28,900 to hold by buyers or the spread of FUD news about the industry will trigger decreases in BTC. The points that can be followed as support for BTC are 28,900 – 28,040 – 27,460 and 26,600 dollars, respectively. For now, the price is fluctuating in the intermediate zone. After a possible rise to $29,500 – $29,700, clearer data on the direction will emerge.

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