Bitcoin continues to go up and down during the week

The markets, which had a quieter week compared to the previous weeks, are dominated by Thanksgiving complacency. Markets in America were closed yesterday for Thanksgiving. Today, indices will be open for half a day and we can say that the markets are in holiday mode. The fact that the world's largest economy is on holiday causes global markets to enter the holiday mood. Financial assets are trading in low liquidity and narrow band. Nevertheless, the expectation that the FED will slow down in the markets is still in the rooftop view and continues to be bought as optimism.

Bitcoin continues to go up and down during the week

However, the peak of Covid in China may depress the already fragile markets. Domestically, the TÇMB cut the policy rate from 10.5% to 9%, to single digits two years later. Cryptocurrency markets also left behind a day when the trading volume was low due to the closed markets yesterday. On the new day, Bitcoin is trading at $16,400, while Ethereum is priced at $1180, below $1200.

Bitcoin continues to show sideways movement between $ 17000 and $ 15500 in its second week. Although there is an increase up to $16700 levels after FOMC minutes, it is priced at $16400 levels during the day. Bitcoin, which has the most aggressive miner sales of the last six years, cannot show upward movement due to the lack of new money entering the market and the miners creating selling pressure. Although the markets are comfortable in macroeconomic terms, it does not seem to be reflected in Bitcoin. While Bitcoin risk still remains, in case of positive news flows, $17000 levels can be retested with an upward movement. If daily closes are seen above this level, the next resistance levels can be met at $17940, then $19000. If there is a negative news flow, the first support level of $16300 and the previously tested $15500 can be retested. If it fails to hold at these levels, a pullback can be seen to the $14130 levels.