• Bitcoin price fell below $25,000 after news of Fed interest rate moratorium.
  • Analysts said the fall could see the bulls lose seven-month trendline support and the next move to $20,000 to $22,000.
  • The main resistance zone is between $26,000 and $28.3,000 and could be touched if BTC rallies.

Bitcoin price fell below $25,000 levels Wednesday night as the bulls failed to sustain a critical support zone as fresh price declines followed the Fed’s decision to halt rate hikes. interrupted.

Bitcoin was consolidating close to $26,000 prior to the Fed’s decision. However, as the market reacted to the news, BTC fell above $25,500, losing a key trendline that has served as an upside support for the past seven months.

Short-Term Bitcoin Price Predictions by Analysts

Bitcoin’s drop below $25,000 now puts the bulls at risk of further corruption, and this scenario could materialize once the bears take the lead. In this case, the downward pressure could force sellers to target new lows.

Crypto Analyst Captain Fibik To tell:

$BTC Bulls Lost 7 Month Major Trendline, Not A Good Sign..!! Is It A TRAP Or Are The Bears Back In Town? If it is a trap and Bitcoin rallies and regains the 26.7k resistance, we could witness a bullish rally towards 31k.Bitcoin could face further downward pressure if the bears return, possibly testing the 20-22,000 area

Bitcoin price chart shared on Twitter by Captain Fibik

Another analyst, Ali, said that the most important support area for BTC is in the $22,700-$23,600 area. On the upside, the main resistance zone lies between $26,000 and $28.3,000. This suggests that a bounce could cause Bitcoin to regain this zone and possibly retest the $30,000 region.

Bitcoin is on thin ice! Notice that the most important support zone is between $22,785 and $23,595, with 1.34 million wallets holding 450,000 $BTC. Conversely, #BTC faces stiff resistance between $26,000 and $28,250, with 5.18 million wallets buying his 2.1 million BTC.said the analyst tweeted.

A level below $25,000 is a dip-buying opportunity, says cryptocurrency analyst Rekt Capital. Note A loss of $26,600 is likely to turn into stiff resistance. If this level is rejected after the weekly close below, it could mean “”.Under $20,000 Awaits

Early Thursday morning, Bitcoin was trading at $24,878, down about 4% as altcoins reflected losses. The cryptocurrency market cap is down 3.8%, with Ethereum trading at $1,674 and XRP at $0.47, down 6% and 7.3% respectively at the time of writing.

By Jules

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