The leading cryptocurrency Bitcoin has been affected by macroeconomic developments lately. Investors have one eye on the US Federal Reserve (FED) statements. Yesterday evening, the FED presented a semi-annual monetary policy report. The Fed says inflation is uncomfortably high, and additional rate hikes are needed to contain inflation. Although the consumer price index is on a downward trend, it is three times higher than the pre-pandemic average. Officials voted to raise the interest rate by a quarter point from 4.50% to 4.75% in February. This vote is the most significant proof that several rate hikes are on the table this year.
Bitcoin, which started the day at $ 23465 with a hard sell yesterday, closed at $ 22354 with a loss of 4.73%, although it regressed to $ 21971.
Bitcoin, which started today at $ 22354, is trading at $ 22345 with a decrease of 0.04% at the time of writing.
Bitcoin Chart Analysis
Bitcoin, which started the day with a challenging sale yesterday, went below the EMA55 support but closed at $22354 above the EMA55 value with the purchases towards the end of the day. When we examine the chart, the $22207 level, which is the EMA55, supports this hard sell. If possible, retracements continue in Bitcoin, which started the day relatively calmly; the $222207 level, EMA55, and the $21775 level, EMA200, are the first support points I will follow. In case the upward movement starts, the levels of $22258, the horizontal resistance, $22852, the EMA5, and $23223, the EMA21, are the first resistance points I will follow.
What is the latest situation in Altcoin?
The latest situation in some altcoins;
- Ethereum: down 0.08% at $1568,
- Solano: down 1.03% at $21.20,
- Avax: up 0.90% at $16.81,
- Ripple: up 0.81% at $0.3754,
- BNB: It is trading at $289.5, down 0.31% at the time of writing.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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