empty
13.04.2023 10:42 AM
Bitcoin holds $30k amid intensifying deflationary movement: What to expect next?

Bitcoin's two-week consolidation movement near the $28k level ended, and the cryptocurrency moved into an active phase of price movement. The crypto asset made a bullish exit outside the range, which later transformed into a "wedge" pattern.

Bitcoin realized bullish momentum before the publication of inflation reports, which was the main trigger for the cryptocurrency. Subsequently, the expectations were confirmed, and the market reacted to the news with a minimal price movement.

This image is no longer relevant

However, the March 2023 inflation reporting results could be a turning point in the bullish sentiment of the cryptocurrency market. Also, positive macro data allowed Bitcoin to move into the next fluctuation range, where the key targets will be levels above $32k.

Deflationary movement intensifies

On the eve of the publication of inflation data, restrained but positive expectations reigned in the market. Most investors expected the inflation rate to fall to 5.2% from 6% in February. As a result, the indicator fell to 5% year-on-year, which provoked additional euphoria in the market.

This image is no longer relevant

As a result, the annual inflation rate in the U.S. fell to its lowest level in two years. Futures markets immediately reacted to the strengthening of the deflationary movement and reduced the likelihood of a rate hike in May by 0.25%.

This image is no longer relevant

Fed officials announced the main theses in the context of new data on inflation and noted that the target rate was reduced after the crisis in the banking system. The regulator also said it is discussing a pause in raising the rate due to the difficult macroeconomic situation.

This image is no longer relevant

On the one hand, this news can be perceived positively, but it is important to emphasize that the Fed has just completed a local stimulus program for banks. This means we can expect another deflationary slowdown in a few months.

BTC/USD Analysis

Despite all the potential skepticism, Bitcoin has become one of the main beneficiaries of lower inflation. Crypto investors recouped the positive news back on Tuesday, resulting in only a minimal spike in volatility on Wednesday.

This image is no longer relevant

As of April 13, Bitcoin is trading near the $30k level with low trading volumes in the region of $18 billion. Due to the long consolidation near the $28.5k level and the bullish breakout of the "wedge" pattern, we can conclude that BTC is moving smoothly into a new swing range – $28k–$30.5k.

At this stage, the $28.5k level becomes a key support zone where large volumes of BTC have been accumulated. At the same time, the $30.5k level is a local resistance level for the price. CME shows increased investor interest in the $34.5k–$35.4k zone.

This image is no longer relevant

Also, near the $34.5k level, there is a global Fibo level of 0.236, which can become a magnet for the price. In the short term, we see readiness for a new bullish move on the 1D timeframe. Stochastic and MACD have formed a bullish crossover, which indicates a likely upward movement.

This image is no longer relevant

At the same time, there is no reason to expect a powerful bullish rally, since the signals of technical metrics are not confirmed by the upward dynamics of trading volumes and network activity. Given this, among the short-term targets of BTC, it is worth highlighting the likely retest of the $30.5k level.

Results

Fundamentally and emotionally, Bitcoin has significantly strengthened and is ready to continue the upward movement. The key levels for the bullish rally of the asset at this stage will be the $34.5k–$35.8k level, where large volumes of sell orders are concentrated, and the 0.236 Fibo level also passes.

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

Recomendaciones para operar en el mercado de criptomonedas el 9 de julio

El Bitcoin intenta cada día romper por encima del nivel clave de $109 000, pero siempre hay algo que lo impide. Ya sea una corrección en el mercado bursátil estadounidense

Miroslaw Bawulski 07:44 2025-07-09 UTC+2

Recomendaciones para operar con el Bitcoin el 8 de julio según el sistema ICT.

El Bitcoin sigue sin poder superar el área de 110 000$ - 112 000$. Hablando en términos simples, a los compradores les falta "combustible". En el mercado de criptomonedas actualmente

Paolo Greco 07:54 2025-07-08 UTC+2

Recomendaciones para operar en el mercado de criptomonedas el 7 de julio

El Bitcoin y el Ether se recuperaron este fin de semana después de una ligera caída observada el pasado viernes. El Bitcoin ya se negocia con confianza en la zona

Miroslaw Bawulski 09:46 2025-07-07 UTC+2

Recomendaciones para operar con el Bitcoin el 7 de julio según el sistema ICT.

El Bitcoin una vez más no logró superar la zona de 110 000 $ - 112 000 $, una vez más comenzó el ascenso hacia la zona mencionada

Paolo Greco 07:27 2025-07-07 UTC+2

Recomendaciones para operar con el Bitcoin el 4 de julio según el sistema ICT.

El Bitcoin una vez más no logró superar el área de 110 000$ - 112 000$, pero parece que seguirá intentando una y otra vez superar dicha área

Paolo Greco 07:40 2025-07-04 UTC+2

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

El Bitcoin una vez más no logró superar la zona de los 110 000$ - 112 000$, pero, al parecer, seguirá intentando una y otra vez superar dicha zona

Paolo Greco 07:32 2025-07-03 UTC+2

Recomendaciones para operar en el mercado de criptomonedas el 2 de julio

El Bitcoin continuó su corrección y durante las operaciones asiáticas de hoy actualizó el nivel de $105 000. El Ether también cayó significativamente, pero luego fue rápidamente recomprado, estabilizándose

Miroslaw Bawulski 07:55 2025-07-02 UTC+2

Recomendaciones para operar con el Bitcoin el 2 de julio según el sistema ICT

El Bitcoin una vez más no logró superar la zona de 110 000$ - 112 000$, pero esta vez ni siquiera intentó hacerlo. El OB "bajista" en el marco temporal

Paolo Greco 07:39 2025-07-02 UTC+2

Recomendaciones para operar con el Bitcoin el 1 de julio según el sistema ICT.

En el Bitcoin continúa otra pausa. Ya casi una semana que el precio se mantiene en el mismo lugar, en las cercanías inmediatas del máximo histórico (ATH). Ayer

Paolo Greco 07:05 2025-07-01 UTC+2

Recomendaciones para operar con el Bitcoin el 30 de junio según el sistema ICT.

El Bitcoin ha entrado en una nueva pausa. Durante varios días consecutivos, el precio se mantuvo en el mismo lugar, pero en la noche del lunes, el Bitcoin volvió

Paolo Greco 07:49 2025-06-30 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.