Bitcoin (BTC), which reached $27,460 with upward pricing until the Fed’s interest rate decision, dropped to $26,380 shortly after this process.
The Fed’s September interest rate decision was kept constant in line with expectations. Immediately after the interest rate decision announced as 5.50 percent, Bitcoin price reached the $ 27,160 range. However, due to global tightening policies, the sale in BTC did not stop at that moment. The pioneer of cryptocurrencies, which continues its downward trend, dropped 4 percent from $ 27,466 to $ 26,380 in just a few hours.
The spring weather that continued in the cryptocurrency market until the Fed’s interest rate decision was almost like a trap. BTC, which gained incredible volatility minutes before the decision, turned this situation against itself and tested a critical price zone. Now all eyes are on BTC.
Bitcoin (BTC) chart analysis
BTC, which had a positive price structure until the Fed’s September interest rate decision, is currently traded at $26,607. BTC, which has demonstrated an effective performance despite the chaos created by FTX and Binance, may continue its rise when it regains momentum. The resistance levels that can be targeted in such a situation are 26,800 – 27,151 – 27,466 – 2,115 – 29,088 and 29,512 dollars respectively.
The continuation of the global tightening policy, negative news from crypto exchanges or BTC remaining below $ 26,380 will strengthen the possibility of testing the following support areas. In such a scenario, the levels that can be followed are 26,034 – 25,647 and 25,300 dollars, respectively.
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