Crypto markets, which have been largely stagnant for a long time, have been rocked by the upcoming FOMC minutes. Although the previous FOMC meeting script has yet to be released, the upcoming meeting agenda is also expected to have a bigger impact on the crypto markets, especially Bitcoin. Now that the minutes are due to be released shortly, the crypto markets have shown a negative impact as the price of BTC is about to hit $26,000.
BTC price has been repeatedly rejected from levels around $27,500 and is currently facing prolonged bearish action. Hence, the price is likely to maintain a significant downtrend which may even dip below $25,000 as predicted by a popular analyst, Michael van de Poppe.
The analyst here offers bullish and bearish levels for the price of Bitcoin in the coming days. He says the next level to watch closely may be $25,800, which has been triggering a bullish divergence for some time. If, in this case, the price fails to hold above these levels, a breakdown may cause the price to fall.
“Bitcoin shed crucial levels after rejecting at $27.5,000,
I wanted it to contain $27,000, it doesn’t.
Scenarios I watch;
– Sweep $25.8,000 for a long bullish play (maybe $24.9,000)
-Claim $26.6,000 or preferably $27.5,000 = play long for me as we will speed up. »