The news of the postponement of consecutive ETFs yesterday evening shook the Bitcoin (BTC) price.
After Grayscale declared victory over the SEC, BTC tested $28,150, recording a total increase of close to 8.50%. But the ETF postponement news from the SEC last night completely turned the market upside down. BTC, which started a bearish movement at $ 28,150, completely lost its momentum with the postponement of ETFs. How is the BTC chart for now? Which levels should be followed?
Bitcoin (BTC) chart analysis
The pioneer of cryptocurrencies, which pinned $ 28,150 with the grayscale effect, could not hold on to this price and started its oscillation movement. The SEC’s successive postponing of ETFs accelerated the decline in BTC. BTC, which found a buyer response by touching $ 25,650, is trading at $ 26,000 as of the current situation.
In the event that $26,313 is exceeded and persisted, $26,800 – 27,150 – 27,467 – $28,400 can be targeted, respectively. However, if the SEC’s continued pressure on the crypto market or $26,000 is broken down, it will naturally increase the selling pressure. In such a scenario, $25.814 – $25.300 and $24.832 can be followed as support. In order for the scenario in BTC to be interpreted positively, $ 25,300 must not be lost.
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