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Cryptocurrencies Market Update ➡️ Solid ECN
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[QUOTE="SOLIDECN, post: 209128, member: 80239"] [JUSTIFY][img]https://i.ibb.co/X8zmCbR/btcusd-forum-2.png[/img] $28800 prevents the asset from further decline Over the past four weeks, sellers in the BTCUSD pair have been testing the key support level of 28800 but have not been able to consolidate below it. The "bearish" activity is probably gradually declining, and soon "digital gold" may start an upward movement with the first target around 34500. The pressure on the cryptocurrency is exerted by the policy of the US Federal Reserve, aimed at raising interest rates and tightening monetary conditions. At the meeting on June 15, the "hawkish" policy of the financial authorities will continue, and the market expects the index to be corrected by at least another 50 basis points. The attention of investors towards the US currency switched towards the end of last year when bitcoin set an all-time high around 68200. However, the cryptocurrency continues to be popular with traders, especially against the backdrop of global instability, as it can serve as a hedge against inflation, which is accelerating in all developed countries. [img]https://i.ibb.co/pwC653B/btcusd-1.png[/img] From the standpoint of technical analysis, around 28800, the direction of the asset's dynamics is determined. If the level can be kept, the growth will continue with the targets at 34500 and 48050. Otherwise, the global trend will reverse to a downtrend with the target at 19200. [img]https://i.ibb.co/wzyy53w/btcusd-2.png[/img] The medium-term trend is slowly turning upwards. Last week, the traders managed to break through the resistance level of 30650.00, and now the growth target is 32350. If it is overcome, the quotes will rush to the area of 34050. The key trend support is shifting to 28500. Resistance levels: 30650, 34050, 37340 | Support levels: 28500, 26800[/JUSTIFY] [/QUOTE]
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