Binance and Coinbase, in trouble with the SEC, continue to keep the market on their toes, what next for Bitcoin (BTC)?
The SEC’s lawsuit against Binance and Coinbase, the fact that Binance US drove dozens of coins, and investors exited the market with fear created a huge uproar in the industry. BTC, which exhibits volatile movements due to the experiences, is taking a critical step to determine its route. How did BTC, which currently finds buyers at an intermediate price, react to the fud news? In which direction can the price move next?
What Does Technical Analysis Show in Bitcoin (BTC)?
CZ’s statements about the latest developments triggered BTC upwards. Seeing selling pressure from $ 27,300, BTC momentarily relaxed to $ 25,300. From this point, it received a reaction and showed an increase of 4.20 percent. BTC, which is currently traded at $ 26,435, can be followed by breaking the levels of $ 26,800 – 27,255 – $ 28,198 and $ 28,775, respectively, in order to price it upwards.
If the SEC continues its aggressive stance and other fud news that may affect the market, the BTC price may be further lowered. Support levels to follow for BTC are $25,800 and $25,257. Buy-side transactions can be expected to play a greater role at this point.
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