New analysis suggests that Bitcoin (BTC) is ready for a “significant move” early next week as volatility is facing an eruption.
In its latest market review, the Decentrader trading package informs readers that it will soon be time to “hit the trigger” with liquidity as the price of Bitcoin rises or falls.
BTC analyst: “A bigger step is coming”
Bitcoin has made lower highs and lows this week as the falling wedge on lower time frames drives down volatility.
This situation can not last forever, and there are only a few days left on Filbfilb Decentrader.
“We continue to trade intraday, at lower time frames, with an eye on older markets and general Ukraine events, to ensure that we have a foothold in the market and are ready to pull the trigger in all directions when the time comes, which is approaching And somewhat unclear on the outcome At the moment due to the current environment, but looking forward to a more sustainable step, the update concludes.
The estimate mimics Filbfilb’s observation of Telegram channel subscribers earlier on March 18, which nevertheless provides potentially lower levels for the weekend, more specifically a return of less than $ 40,000 to support around $ 37,500.
“It’s a bigger step on the way,” she says. “Next week, I think we’ll see some action.”
“Bitcoin found its way into the demand area each of the last three weekends, but fell weaker the following week, so I do not think it is unreasonable to expect something like this again this week … the price is currently supported by 50 DMA, but we should. I sees a weekly closure above the level I mentioned earlier. ”
As mentioned, Bitcoin’s 50-day moving average is currently around $ 40,330 on Bitstamp, according to data from Cointelegraph Markets Pro and TradingView.
1 day BTC / USD (bit stamp) candlestick chart with 50DMA. Source: Trading View
Close-up simulates a ten-year-old puzzle
However, concerns that the macro engine will put more pressure on Bitcoin are by no means limited to trading circles.
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As the Cointelegraph reported on March 17, there is a prevailing feeling that the coming interval may be a bearish volatility.
This will be due to inflationary pressures, the reaction to the ongoing Ukrainian-Russian conflict, and the growing desire to move away from dependence on the US dollar, the euro and other Western currencies.
Analysts say that in the future, bitcoin may still be ahead of gold, but this process is likely to be painful.
Filbfilb also suggested a platform that will showcase the colors in the future.
“Price action shows some strength for Bitcoin, along with negative funding and generally negative sentiment, but Fed rate hikes and planned cuts will continue to cause liquidity problems for Bitcoin, at least in the short term, which remains to be acknowledged. … as an anti-inflation asset it aims to be, ”the update explains.
“This is something that is likely to take some time as large players and private investors / traders will have less liquidity while facing a decline in disposable income that we have not seen in decades.”