SAFAKNA TURKEY – the biggest cryptocurrency bitcoin (BTC) turned lower due to new US economic data ahead of the trading session on Wall Street on February 20th. So what’s next for BTC, here’s the analysts’ interpretation of Bitcoin.
Tedtalksmacro: Purchase option
Data, Bitcoin/US dollarThis shows that it’s relying on critical support, erasing advances at the start of the day. The pair fell, reacting negatively to US unemployment data for January. Valid in USA unemployment data This so far exceeded expectations that the overall unemployment rate fell to its lowest level since 1969. Non-farm payrolls (NFP) data were also strong, with median hourly wages in line with expectations for growth of 0.3 percent.
Popular analytical account Tedtalksmacro on Twitter non-agricultural employment In his commentary on the data, he downgraded the rating to “great success”. Drawing attention to its prediction from the day before, Tedtalksmacro seems to indicate that this is a potential opportunity to buy more BTC given the recent drop in BTC/USD to $20,000. “Potentially this news is an opportunity to reboot,” he wrote in another tweet.
Bitcoin’s latest drop has resulted in a stronger-than-expected job market. Federal ReserveThis is because it allows the (Fed) to maintain tighter and less liquid monetary conditions longer. Economist and analyst Jan Wüstenfeld said: “Is the US economy going into recession? Think again, I think. At least in the short term, this is out of the question.” said.
Game of Trades: Bitcoin Retests Breakout Level
While the Fed raised interest rates by 25 basis points, in line with almost all expectations during the week, Chairman Jerome Powell caused a stir in the markets by using the term “disinflation” in his statements. BTC/USD broke the $24,000 mark for the second time and market analysts were hoping the price would reach $25,000 before a more significant pullback.
Investment research resource Game of Trades on Twitter reports:BTCIt has made a clean break above the macro downtrend line and is retesting,” he said, adding that the uptrend will continue, adding, “The next major resistance area to cross is the $25,000 zone.”
Popular crypto analyst Crypto Tony warned that the $25,000 BTC target could no longer be reached, adding, “$25,000 is my main goal, but right now I see a lot of people wanting it and this is becoming a crowded deal.” said. The analyst does not expect this level to be seen as markets tend to move in the opposite direction of expectations.
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