(7/27, Wed) btc supported $21.8k, but it seems that this is the bottom

in #btc2 years ago

Yesterday(7/26 00:00 - 24:00, UTC+0), bitcoin price recorded its starting as $21280, its lowest as $20720, its highest as $21334, its closing as $21238. Bitcoin started falling after Tuesday, consolidating around $21k, then dropping further from 12:00, reaching a bottom at 15:15, and then rebounding, ending weak flat.

Looking at the 4hr chart, Bitcoin fell below $21k and then rose again, it is worth keeping an eye on the stock market movement today. On the daily chart, it can be seen that Bitcoin, which broke the 50MA the day before, took a day off, but looking at the chart, it doesn't appear to be very hopeful.

In the macro market, with the announcement of interest rate hikes at the FOMC meeting ahead, the stock market fell as Microsoft's earnings fell and Russia's European gas supply cut, which seems that btc rose last week as there was no bad news and it seems difficult to expect good movements in the crypto market that follows the stock market.

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