The approval of the US Debt Ceiling in the House of Representatives shook Bitcoin (BTC), could this be the start of a possible bear season?
With the approval of the US Debt Ceiling Cryptocurrencies, which started to lose value, were drawn to support levels. BTC, which has risen rapidly in the past days, tested $ 28,300. FUD news from the market directly reversed this rise in BTC. Currently in support range BTC As long as it does not receive a reaction from this point, it may exhibit deeper decreases. OK then BTC Are upsides possible in the short term? Which areas can be followed as long as the declines continue?
Bitcoin (BTC) Chart Analysis
US Debt Ceilingcollapsed after approval BTC It is currently priced at $26,780. BTC, which dropped to $ 28,300 a few days ago, accelerated the downward momentum with this news. BTC, which has not been able to rise clearly for days, can show rises to 27.255 – 28.300 – 28.775 – 29.250 and 30.000 dollars, respectively, in the scenario where it can protect its support area.
Factors such as the negative continuation of the fundamental analysis and the departure of investors from the market due to the arrival of the summer months may drag the BTC price to further bottoms. BTC The levels at which buy-side transactions will be followed are $25,827 and $25,257. In the big time frame, $25,257 is very critical. Losing this value could drag cryptocurrencies into a prolonged decline.
