After the FED kept the interest rate constant, Bitcoin passed $ 26,000 last night, and after the hawkish statements of FED Chairman Jerome Powell, there was a sharp decline in BTC and altcoins.
BTC fell below $25,000 and the largest altcoin Ethereum (ETH) dropped to $1,620.
While investors wonder whether these declines will continue, a crypto analyst named Trader Tardigrade on Twitter said that Bitcoin may be experiencing the last drop before the rise.
Stating that Bitcoin may be retesting the double top support, the analyst said that this situation also happened in 2015.
Pointing out that BTC experienced a great rise after retesting the double-peak support in 2015, the analyst said that Bitcoin experienced a rise of more than 133% from $ 300 in November 2015 to about $ 700 in June 2016.
"I think it's the last drop before the bullish in Bitcoin. BTC seems to be retesting the double top support in this context, and new ATHs may follow."
#Bitcoin the final step before sky rocketing – Retest on a double top support.#BTC #Crypto pic.twitter.com/65xiKjSnwD
— Trader Tardigrade (@TATrader_Alan) June 14, 2023
*Not investment advice
