empty
29.03.2023 11:16 AM
Bitcoin continues to move sideways, but the clouds are gathering: what to expect in the near term?

The previous bullish week ended and left the cryptocurrency market in a state of increased volatility. The market has been consolidating and moving sideways for the fifth day to stabilize the situation. Trading volumes have fallen below $20 billion, and volatility has decreased significantly.

At the end of yesterday's trading day Bitcoin came close to the lower boundary of the $26.6k consolidation channel. However, the asset managed to rebound from this level and recover above $28k. This means that Bitcoin will retest the upper boundary of the consolidation channel in the near future.

This image is no longer relevant

The cryptocurrency has a ghostly chance to break through the upper border near $29k, and develop the next stage of the upward movement. This option is likely, but only within the framework of manipulative actions in order to collect liquidity beyond the resistance levels. Otherwise, the situation is becoming increasingly bearish, both fundamentally and technically.

Fundamental Factors

According to MarketDesk, Fed officials fear another round of rising inflation due to stimulus for the banking system. Against this background, the BlackRock investment fund makes a statement that the regulator will continue to raise the rate, and there is a high probability of dragging out the current monetary policy until the end of summer.

This image is no longer relevant

Goldman Sachs analysts said their estimate of the likelihood of a recession in the U.S. economy over the next 12 months rose from 25% to 35%. The index may rise even higher on Friday, on the release of GDP data for Q4 2022 and labor market statistics.

U.S. regulators continue to smoothly "squeeze" liquidity from the largest exchange, Binance. The CFTC has filed a lawsuit against the crypto exchange and wants a complete ban on the company's operations in the U.S., as well as all of its subsidiaries.

This image is no longer relevant

Against the background of this statement, the cryptocurrency market collapsed locally, having experienced an outflow of funds of more than $300 million per day. However, in addition to fundamental reasons, there are more and more technical signals that Bitcoin, and the entire market behind it, are moving in the direction of a corrective movement.

Profit-taking in BTC intensifies

As of March 29, Bitcoin was up 3.8% as part of a recovery move above $28k. On the daily chart, the cryptocurrency formed a bullish cross on the stochastic, which may indicate a further upward movement. At the same time, there is divergence on the MACD, and thus we should not expect great results from the upward move.

This image is no longer relevant

Last week, we noted emerging trends among long-term investors and miners. The former began to sell off their holdings when the price peaked above $28.5k. In the same period, miner stocks fell by 600 BTC in just two days.

This image is no longer relevant

Obviously, due to the lack of growth in the price of BTC and the retention of the key support at $26.6k, investors come to a decision in the form of profit-taking. Glassnode experts say profit-taking sentiment has expanded to short-term investors.

This image is no longer relevant

The current distribution period is also an important signal for a likely decline in the Bitcoin price. The price is testing the lower boundary of the current corridor with increasing volumes and volatility. At the same time, the recovery movement of the price occurs with falling volumes.

Results

Such observations indicate that bearish sentiment on the BTC market is growing, and in the near future, when the process of profit-taking will reach its apogee, we expect a breakdown of the $26.6k level. The nearest support zone for BTC will be $25k–$25.3k.

This image is no longer relevant

Subsequently, the asset may fall further to the levels of $23.6k–$24k and $22.1k. Simultaneously with the price decline there will be a stage of mass redistribution of BTC coins and liquidity withdrawal, which in the medium term will become a springboard for movement to $30k.

Artem Petrenko,
Analytical expert of InstaForex
© 2007-2025
选择时间框架
5
分钟
15
分钟
30
分钟
1
小时
4
小时
1
1
通过InstaForex赚取加密货币汇率变动的收益。
下载MetaTrader 4并开启您的第一笔交易。
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

推荐文章

BTC/USD 分析——3月18日:比特幣準備增長,但崩盤風險依然存在

BTC/USD 的 4 小時波浪結構顯得清晰且界定明確。在完成了五浪上升趨勢後,一個看跌階段開始,目前看起來像是一種修正型態。

Chin Zhao 09:47 2025-03-18 UTC+2

3月18日加密貨幣市場交易建議

比特幣和以太坊的買家試圖實現更多顯著的增長,市場的多頭一度可能對回升抱有希望。然而,他們未能維持已取得的高點,導致這些交易工具出現大幅向下的修正,使其保持在橫盤整理格局中。

Miroslaw Bawulski 08:00 2025-03-18 UTC+2

比特幣與以太坊艱難求存

比特幣和以太坊儘管每次都遇到困難,但仍在努力增長。不過,回歸牛市的機會仍然相當高。

Jakub Novak 09:32 2025-03-17 UTC+2

3月17日加密貨幣市場交易建議

比特幣和以太坊繼續在各自的通道內整固,這讓人們預期牛市會持續。然而,這需要滿足幾個技術因素才能實現,我們將在下文中更詳細地討論這些因素。

Miroslaw Bawulski 08:04 2025-03-17 UTC+2

再次整合後的下跌

比特幣和以太坊繼續試圖上升,但每次都面臨阻礙,這表明這更像是持續看跌修正中的整合階段,而不是許多交易者所期望的新牛市開始。以太坊在得知基金會開發者將啟動新測試網路Hoodi的消息後上漲了1.46%。

Jakub Novak 12:25 2025-03-14 UTC+2

3月14日加密貨幣市場交易建議

比特幣和以太坊目前正在通道內盤整,形成可能會導致進一步下跌的條件。儘管許多專家認為,底部已經出現且不可阻擋的上漲正在地平線上,但我仍持懷疑態度。

Miroslaw Bawulski 08:20 2025-03-14 UTC+2

2025年3月14日星期五Uniswap加密貨幣的日內價格走勢技術分析。

從Uniswap加密貨幣的4小時圖表來看,雖然目前仍受到壓力,但其價格走勢低於EMA(21),且EMA傾斜向下。但由於Uniswap價格走勢與隨機震盪指標之間出現了背離現象,以及出現了看漲123型態,存在轉折點加強向上趨勢的潛力,該加密貨幣將測試6.232的水平。

Arief Makmur 07:03 2025-03-14 UTC+2

2025年3月14日星期五,狗狗幣的當日價格變動技術分析。

隨著Doge加密貨幣價格走勢與隨機震盪指標的匯聚出現,這顯示出Doge在不久的將來有向上增強的潛力,該加密貨幣將測試0.18161的水平,如果該水平成功突破並收於其上,則Doge可能繼續增強至0.19337的水平。若增強的動能及波動性進一步支持,0.21241則可能成為下一個目標。

Arief Makmur 07:03 2025-03-14 UTC+2

Bitcoin 及 Ethereum 買家掙扎以獲得控制

在本週初的大幅拋售後,比特幣繼續回升。然而,昨日未能突破本週高點,令短期看漲前景存疑。

Jakub Novak 10:22 2025-03-13 UTC+2

3月13日加密貨幣市場交易建議

比特幣和以太坊正處於新的通道中。從好的方面來看,本周初觀察到的劇烈賣壓已經減弱。

Miroslaw Bawulski 08:05 2025-03-13 UTC+2
现在无法通话?
提出您的问题,用 在线帮助.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.