ANALYSIS
NQ100 Finds Support from PPIApr 14
Bitcoin Struggling to Find Direction
We saw a limited recovery in bitcoin with the improvement in investor risk appetite in international markets. However, the fact that influential figures of the Federal Open Market Committee (FOMC) did not rule out the possibility of another 75 basis point rate hike at its September meeting is weighing on bitcoin. At this point, the minutes of the Committee to be published tomorrow for the July meeting are extremely critical. Despite the easing in inflation, the aggressive tightening determination of the members is revealed in the minutes, which may increase the pressure on the dollar in cryptocurrencies. From this point of view, in bitcoin, where the possibility of breaking the symmetrical triangle formation with the support of $22,650 increases, $21,420 and $20,000 is the support zones that should be followed respectively. In possible upward attacks, 25 210 and 26 500 resistances can be observed.
