empty
27.03.2023 12:53 PM
Bitcoin moved sideways amid a collapse in trading volumes: Is correction inevitable?

After a strong upside move last week, Bitcoin moved into a consolidation stage near the $28k level. This was facilitated by a sharp drop in trading activity in the BTC network and a strong resistance area in the $30k–$31.5k region.

The crypto market capitalization is holding at $1 trillion, and BTC price is near $27.5k. Over the last two days, changes in market capitalization have been minimal, which may indicate a decline in investment interest in Bitcoin and the market.

This image is no longer relevant

Given the tension in the banking system of the U.S. and Europe, investor interest in the cryptocurrency market will continue to grow. At the same time, there are more and more signs that BTC will go to a local correction.

Fundamental factors

A key factor for Bitcoin's future accomplishments is the Fed's desire to sit on two chairs. On the one hand, the agency raises the rate by 25 basis points, but at the same time injects $90 billion into the banking sector every day.

This image is no longer relevant

Markets perceive the ambiguity of the Fed's actions with enthusiasm, but the IMF warns that inflation remains high. The U.S. central bank also said that it does not see the possibility of a rate cut in 2023. Given the forced infusion of funds into the economy, it is difficult to argue with this.

This image is no longer relevant

Moreover, according to BBG, the Fed's forced reaction to the banking crisis has prompted changes in the agency's long-term plans. Now the regulator is preparing for the inevitable recession of the U.S. economy, not a soft landing.

This image is no longer relevant

Fannie Mae experts say that the banking crisis has become a catalyst for future recession of the U.S. economy. A similar situation is observed in the EU, where the largest banks are experiencing a massive outflow of funds. We should not ignore the dangerous precedent, which will soon emerge in Switzerland with Credit Suisse bank.

BTC/USD Analysis

The banking sector of the world's largest economies is experiencing a massive outflow of funds, and Bitcoin has become one of the beneficiaries of such a flow of liquidity. The cryptocurrency has significantly strengthened its position and managed to reach $28k.

The final point of the local high over the past six months was $29.4k, set on Friday. Then the asset failed to realize the bullish momentum, thanks to the powerful response of the sellers. The $29k–$31.5k area looks impregnable at the moment, and it looks unlikely to break through it with a trade.

This image is no longer relevant

Given this, the bulls need to collect additional liquidity, which will allow them to make an impulse breakdown of this area. This implies that the cryptocurrency price will fall below key support areas. The collapsed trading volumes and growing profit-taking sentiment also hint at the possibility of a correction.

This image is no longer relevant

On the daily chart, we see signals from the RSI and MACD to continue the consolidation movement. The stochastic oscillator has formed a bearish crossover, so the asset has a chance to develop a local downward trend.

In general, Bitcoin enters the new trading week in the most inert state. The asset is moving within the $26.7k–$29.4k area, and there is every reason to believe that the cryptocurrency will continue its consolidation movement in the coming days.

Results

The market has exhausted the bullish momentum that formed last week and has moved into a flat. Fundamentally, Bitcoin is not exhausted but needs additional liquidity for a successful movement to $30k.

This image is no longer relevant

Given this, we can expect a corrective movement of BTC in the medium term. Among the key areas where large liquidity reserves are concentrated are $26.7k and $26.1k. Under favorable circumstances, the $24k–$25.2k area will be the final correction for the asset.

Seleccione el marco de tiempo
5
min
15
min
30
min
1
hora
4
horas
1
día
1
s.
Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO

Recommended Stories

Análisis del par BTC/USD. El 4 de junio. El Bitcoin podría finalizar su crecimiento

El conteo de ondas en el gráfico de 4 horas para el instrumento BTC/USD se ha complicado. Observamos una estructura correctiva bajista que finalizó su formación alrededor del nivel

Chin Zhao 07:42 2025-06-04 UTC+2

Recomendaciones para operar con el Bitcoin el 4 de junio según el sistema ICT

El Bitcoin finalmente comenzó una corrección bajista después de la retirada de liquidez desde su último ATH. La retirada de liquidez desde el último ATH puede significar no solo

Paolo Greco 07:42 2025-06-04 UTC+2

Recomendaciones para operar con el Bitcoin el 3 de junio según el sistema ICT.

El Bitcoin finalmente comenzó una corrección bajista después de retirar liquidez de su último ATH. La retirada de liquidez del último ATH puede significar no solo un retroceso, sino

Paolo Greco 07:22 2025-06-03 UTC+2

Las perspectivas técnicas de crecimiento de el Bitcoin son bastante buenas

El Bitcoin tocó fondo en la zona de los $104 000 y en los primeros días de junio se negocia a un precio cercano a los $104 500. Es evidente

Jakub Novak 13:27 2025-06-02 UTC+2

Recomendaciones para operar con el Bitcoin el 30 de mayo según el sistema ICT

El Bitcoin con mucho esfuerzo ha comenzado a corregirse, tras la retirada de liquidez de su último ATH. Durante casi una semana la criptomoneda se mantuvo en el mismo lugar

Paolo Greco 07:40 2025-05-30 UTC+2

Recomendaciones para operar en el mercado de criptomonedas para el 29 de mayo

El Bitcoin comienza una corrección, mientras que el Ether continúa mostrando señales de fortaleza. La caída de ayer del Bitcoin hacia el área de los $107 000 con un buen

Miroslaw Bawulski 11:00 2025-05-29 UTC+2

Recomendaciones para operar con el Bitcoin el 29 de mayo según el sistema ICT

El Bitcoin continúa con un crecimiento inusualmente no técnico y anómalo sin ninguna corrección ni retroceso. En los últimos días la situación técnica prácticamente no ha cambiado y la volatilidad

Paolo Greco 08:17 2025-05-29 UTC+2

Recomendaciones para operar con el Bitcoin el 28 de mayo según el sistema ICT

El Bitcoin mantiene un crecimiento anómalo, excepcionalmente no técnico, sin una sola corrección o retroceso. En los últimos días, el panorama técnico apenas ha cambiado y la volatilidad es bastante

Paolo Greco 08:06 2025-05-28 UTC+2

Análisis del par BTC/USD. El 27 de mayo. El pump del Bitcoin continuará

El conteo de ondas en el gráfico de 4 horas para el instrumento BTC/USD se ha complicado. Hemos observado una estructura correctiva descendente que concluyó alrededor del nivel

Chin Zhao 07:28 2025-05-27 UTC+2

Recomendaciones para operar con el Bitcoin el 27 de mayo según el sistema ICT

El Bitcoin continúa un crecimiento excepcionalmente no técnico y anómalo sin ninguna corrección ni retroceso. En los últimos días, el panorama técnico apenas ha cambiado, y la volatilidad es relativamente

Paolo Greco 07:28 2025-05-27 UTC+2
¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
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.