Cryptocurrencies closed yesterday with a sudden rise
Bitcoin rose to the level of $ 16,500, Lite Coin increased its target to $ 90 yesterday.
US stock markets, which started the day negative with concerns about China, closed with strong purchases after Fed vice presidents Daly and Mester stated that the rate of interest rate hike should be reduced in the December meeting. It is expected that the message of reducing the rate of increase in the interest rate, expressed by Fed Chairman Powell and vice presidents, will also be reflected in the FED minutes, which will be published this evening. These news create a supportive mood on the market. However, it should not be forgotten that the effect of this theme may be short-lived and may end with a major news or development.
Cryptocurrencies closed yesterday with a sudden rise
Abroad, the Fed minutes and the leading manufacturing industry and services sector PMI expectation index data for November will be followed. The S&P 500 index closed the day above 4000 points, making its highest daily close since mid-September. In cryptocurrencies, the losses were limited and turned positive yesterday. With the news that Binance is continuing its fund negotiations, Bitcoin rose to the $ 16,500 levels, receiving a reaction from the support of two years. The $1170 region was tested on Ethereum as well.
Bitcoin, which has been priced in a narrow band range and a horizontal - negative trajectory for about two weeks, quickly took the support of the $ 15,700 region, which is the two-year support level, and quickly headed towards the MA 50. In Bitcoin, which reversed the last two-three-day decline and rose to $ 16,500, the $ 17,000 levels remain critical. If daily closes come above this region, it can break the pressure and limit the downtrend. If $ 17,000 is not exceeded, $ 15,700 support can be seen in Bitcoin again.
