Bitcoin (BTC) spiked above $28,000 as a deal on raising the US debt limit increased sentiment.
The new US agreements on debt limit, Bitcoin ( BTC ) seems to have cleared the way. BTC, which could not see the level of $ 28,400 for approximately 20 days, made contact with $ 28,450 with this event. The positive grounding of the US debt limit for BTC brought the rapid increase in cryptocurrencies. How does the chart progress for BTC, which has risen above $ 28,000 with these events?
Bitcoin (BTC) Chart Analysis
BTC, which bounced after the agreements for the US debt limit, exploded to $ 28,450. BTC, which has withdrawn from this resistance, is currently trading at $ 28,024. The continuation of positive scenarios on the BTC side could push the price to $28,167 – 28,775 – 29,250 – $30,000 and $31,000 respectively. Evaluating the rises separately in terms of technical and fundamental analysis is one of the critical elements.
A reversal of the positive mood or the intensification of sell-side BTC transactions can quickly bring the BTC price down. The support levels that can be followed for BTC are 27,250 – 26,780 – 25,820, and $25,250 respectively. At these points, looking at the reaction of the buyers and the trading volume of the buy-side transactions can provide clues about the market.
