FED Chairman Powell's Speech is Gone! What Will Happen in Bitcoin (BTC) Now?
What are the critical support and resistance levels in Bitcoin (BTC)?
As of today, all eyes in the cryptocurrency industry were on the speech of US Federal Reserve (FED) chairman Jerome Powell. Although FED Chairman Powell did not make a long speech, he gave some important signals about the US economy.
Stating that inflation has not realized the expected decreases as of this year, Powell announced that interest rates can be kept at peak levels for a while.
Although there was no significant decline in Bitcoin after these developments, BTC had priced in that Powell would make a negative speech much earlier.
What Awaits Investors in Bitcoin (BTC)?
The leading cryptocurrency Bitcoin (BTC) is currently trading at $62,500. BTC, which broke its minor falling trend in the past period, rose to $ 66,900. Bitcoin succumbed to the selling pressure and started losing value before reaching the $67,800 resistance.
BTC, which seems to have made a retest of the minor falling trend in these recent declines, has been accumulating in the range of $ 61,700 - $ 63,700 for a while.
Bitcoin losing $61,700 in the coming days will cause a decline to the support range of $59,000 - $60,000.
If the dark clouds over the financial markets disperse and BTC exceeds $64,000, Bitcoin's new target may be $67,850.
Stay tuned for updates.
