Bitcoin gave hope to its buyers

The daily volume, which fell to around 15 billion dollars, increased to 30 billion dollars yesterday. Markets waiting for the FED minutes increased their risk appetite in the first place with the messages coming out of the minutes. Bitcoin soared as high as $17,000. Ethereum also saw $1275. However, it later gave back its earnings due to news from China that 75% of Shanghai was Covid-19 and the IMF chief's statements that the FED would continue to increase interest rates. The message "don't underestimate the tight stance", which emerged from the FED minutes yesterday, had an important signal effect.

Bitcoin gave hope to its buyers

In the morning today, Bitcoin is priced at $ 16,800. Ethereum, on the other hand, is trying to create support for itself at the $1250 level. The rises in Shiba Coin and CHZ draw attention. In both cryptocurrencies, the two-day rise has reached 10%. Solana, which has been very negative in the last period and whose price has decreased to single digits, found morale with the support of Bonk. Bonk, a new meme token released on the Solana network, gained significant volume and boosted Solana as well, reaching as high as $14. During the day, ADP private sector employment data in the USA will be on the radar of the markets. The expectation is that private sector employment will increase by 150 thousand people per month.

Bitcoin was rejected yesterday by testing the key resistance level of $17000 and today it is priced at $16800 in the morning. The fact that it is priced below $ 16830, which is the 50-day moving average, can be said to be critical activity. In a positive scenario, it will be important to make daily closes above $16830. In the continuation of the rise, $ 17000 can be tested again after $ 17250.

If Bitcoin continues to move below the $16830 level, the trendline ($16620) can be expected to work as support in the negative scenario. If it fails to hold this level, $16450 is the next support level.