empty
21.03.2023 10:40 AM
Bitcoin stabilizes near $28k: should we expect continued rise?

After a strong start to the week, Bitcoin slowed down and consolidated near the $28k mark. The cryptocurrency moved to the consolidation stage, which significantly reduced the level of volatility in the market. Despite this, investors expect further growth of the asset, given the statements of regulators of developed countries.

At the same time, Bitcoin came close to an important resistance level, where a large-scale accumulation stage took place in the spring of 2022. The price of the cryptocurrency managed to reach this level, but subsequently a strong reaction from the sellers stopped the upward movement of BTC.

Is the Fed changing its monetary policy?

For the last week and a half, the cryptocurrency market is growing due to the crisis in the U.S. banking sector and the Fed's response. The regulator is trying to solve the issue of liquidity in the banking system, thereby stimulating the growth of BTC.

This image is no longer relevant

The situation risks becoming even more pleasant for cryptocurrencies as the Fed, the ECB, as well as the regulators of England, Japan and Switzerland announced the start of a stimulus program. Central banks plan to increase liquidity in U.S. dollar swap lines.

This image is no longer relevant

This will greatly alleviate the liquidity problem and could trigger another round of Bitcoin's bull run. Some of the leading U.S. banks expect more decisive steps from the Fed at tomorrow's meeting.

This image is no longer relevant

Markets are pricing in a 70% chance of a 25 basis point increase. However, the possibility of maintaining the current rate level or reducing it is gaining more and more popularity. But, it is important to understand that the problem of inflation remains.

The IMF warns financial markets of being overly optimistic about a rapid decline in inflation. Given this, in the medium term, Bitcoin will have to deal with the renewed aggressive policy of the Fed.

BTC/USD Analysis

However, the medium-term outlook is not preventing the cryptocurrency from updating local price highs. As of March 21, Bitcoin is trading near the $27.5k level with $40 billion in sagging trading volume.

This image is no longer relevant

It is also reported that despite a bullish week, crypto funds showed an outflow of $95 million. This is the sixth week of withdrawals from cryptocurrency products, indicating that large investors are cautious.

This image is no longer relevant

At the same time, it became known that Tether "printed" another $1 billion USDT. Usually, such actions by a stablecoin issuer entail bullish impulses. However, given the influx of BTC coins to exchanges, it can be assumed that the increase in USDT volumes was the result of the profit-taking process that had begun.

This image is no longer relevant

Technically, Bitcoin moved into the consolidation stage after an unsuccessful entry into the $30.1k–$31.6k area. Also, the asset looks overbought on the stochastic oscillator and RSI. At the same time, MACD continues its upward movement, which indicates the strength and stability of the bullish trend.

This image is no longer relevant

Investors are waiting for the key reason to enter the asset—the Fed meeting, which will be held tomorrow. Given this, trading activity today, March 21, sank a little, and therefore we should expect a stabilization movement of BTC/USD within the $26.7k–28k area.

Results

Given the likely outcome of tomorrow's Fed meeting, we can assume that Bitcoin will make the final push to the $30.1k–$31.6k area. Subsequently, the asset is waiting for a corrective movement, where the key support levels will be the $23k–$24.5k and $20k–$21k areas.

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.