REFLECTION OF FED INTEREST DISCOUNT TO CRYPTOCURRENCIES
DAILY CRYPTOCURRENCY ANALYSIS
BITCOIN [BTC] 504956.47 TRY
BTCUSD, which has seen an upward movement with interest rate cuts of Fed and cash pumping to the market with the arrival of risky assets, tests the 5441 resistance we have focused on. In this case, acceleration up to 6258 can be sustained if the mentioned resistance is broken. It is thought that the pricing that may occur under the critical resistance may trigger selling pressure and a downward in price movements can be seen. Resistance levels gained importance with the improvement of international economic conditions and the spread of positive effect; If any negative situation is seen, it can be reflected negatively to the prices at the same rate. In this case, the current follow-up of the support levels will remain important.
Due to its high correlation, a similar reaction seen in BTCUSD was also tested in ETHUSD and the cryptocurrency showed similar upward movements. In this context, it is thought that if buyings with volume are seen in the cryptocurrency that turned to 126 resistance, it may accelerate up to 153 levels. In the pricing below 126 resistance, it is expected that the consolidation between 126 and 91 will continue.
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