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FED Chairman Powell's Speech Is Behind Us! What will happen in Bitcoin (BTC) now?
What are the critical support and resistance levels in Bitcoin (BTC)?
As of today, the eyes of the cryptocurrency industry were turned to the speech of the US Central Bank (FED) chairman Jerome Powell. Although Fed chairman Powell did not make a long speech, he gave some important signals about the US economy.
Saying that inflation has not achieved 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 fall in Bitcoin after these developments, the BTC had priced in a negative speech by Powell much earlier.
What awaits investors in Bitcoin (BTC)?
leader cryptocurrency Bitcoin (BTC) is currently trading at $62,500. The BTC, which broke its minor downtrend in the past period, rose to $ 66,900. Bitcoin succumbed to selling pressure before reaching the $67,800 resistance and started to lose value.
The BTC, which seems to have retested its minor downtrend in these recent declines, has been accumulating in the range of $61,700 – $63,700 for some time.
In the coming days, Bitcoin's loss of $61,700 will lead to a decline to the support in the $59,000-$60,000 range.
If the dark clouds over the financial markets dissipate and BTC exceeds $64,000, Bitcoin's new target may be $67,850.
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