The re-emergence of ETF issues supported Bitcoin (BTC) upwards, adding a positive atmosphere to the market.
With the SEC postponing the ETF processes, the issue of possible approval came to mind again, adding strength to cryptocurrencies, especially BTC. BTC, which tried the $ 26,034 support several times, dropped to $ 27,300 with the impact of this news. The leader of the cryptocurrencies, which increased by nearly 5 percent in total, still maintains a safe area, although it has retreated relatively. What is the latest situation on the BTC chart? Which levels should be considered?
Bitcoin (BTC) technical analysis
ETF news was like a cure for BTC, which recently tested $ 25,000 and caused concern in the market and crypto investors. The pioneer of cryptocurrencies, which accumulated for a few days at $ 26,000, reached $ 27,300 after the fundamental analysis gained strength. The selling pressure, which naturally increased as minor resistance was approached, pulled the price down to $26,950.
As of the writing of the news, BTC is traded at $26,957. If it adopts $26,800 as support, its target levels will be $27,151 – 27,466 – 28,120 and $28,815, respectively. After a volume breakout of $28,815, the $30,000 levels could be retested. In case of a market reversal, it is of great importance not to lose $26,800. The support levels that can be followed afterwards are 26,400 – 26,034 – 25,638 – 25,300 and 25,009 dollars respectively.
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