empty
24.05.2023 10:57 AM
Bitcoin consolidation may end with a surge in volatility: whose side is the initiative on?

Global financial markets and leading instruments froze in anxious anticipation of a resolution to the U.S. debt situation. The S&P 500 index maintains its position near the $4,100 level, while Bitcoin and gold are moving within narrow ranges without any significant price movements.

This image is no longer relevant

However, in the crypto market, there is a rule that states a period of calm is often followed by a period of increased volatility. Considering the macroeconomic situation, the resolution of the U.S. debt situation will be the main catalyst for strong price movements.

The market is optimistic

The U.S. Treasury has only $60 billion left, and if expenditures remain at the current level, there will be an $18 billion deficit in the U.S. budget by Friday. Republican House Speaker Kevin McCarthy stated that the recent dialogue with President Biden was the most productive.

This image is no longer relevant

Many American analysts are also confident that the U.S. debt ceiling will be raised. Investors show their commitment to these forecasts, as evidenced by the stable positions of the S&P 500 index. The markets are also confident that the Federal Reserve will not raise the key interest rate in the near future. About 85% of analysts on the CME expect a summer pause in the regulator's policy.

This image is no longer relevant

All these factors contribute to a local positive sentiment in the markets, which is sometimes reflected in the buying activity during the restorative movements within consolidation ranges. However, investors await a definitive resolution of the situation, resulting in low trading volumes in the crypto market.

Bull and bear parity on BTC

Price movements near the $27k level continue in the Bitcoin market. Buyers must not surrender this level, as it will lead to a direct decline to the $25k level. This is due to the lack of horizontal volumes in the $25k–$26.5k range.

This image is no longer relevant

Despite the attempts by the bulls, bearish pressure remains strong, gradually leading us to a complex price situation. The BTC/USD daily chart is forming a "triangle" pattern with decreasing highs and increasing lows.

This image is no longer relevant

In this situation, we saw an attempt by buyers to push the price above the $26.6k–$27.5k range. Although the bullish surge was unsuccessful, it is worth noting that the breakout attempt was accompanied by increased trading volumes. This indicates the presence of a buyer who is not in a hurry to join the game.

BTC/USD Analysis

Sellers' activity remains at a high level. Bears confidently absorbed the volumes of the green candle from May 23rd and continue to exert pressure on the price. As of 08:00 UTC, technical indicators confirm the presence of a bearish impulse. RSI and stochastic are declining below the 40 mark.

This image is no longer relevant

In the short-term perspective, the final formation of the "bearish engulfing" pattern and closing the trading day below the $27k level will allow sellers to realize an impulse towards $25k. However, on the 4-hour timeframe, the first signs of buyer activity are already emerging, so the likelihood of implementing the bearish plan is questionable.

Conclusion

Bitcoin continues to move within a narrow range of $26.6k–$27.5k, where the lower boundary of the channel serves as the final defense for the $25k level. The market maintains a relative balance between sellers and buyers, but the level of volatility in the crypto market is expected to significantly increase in the near future.

Artem Petrenko,
Especialista em análise na InstaForex
© 2007-2025
Selecionar intervalo de tempo
5
min
15
min
30
min
1
hora
4
horas
1
dia
1
s.
Ganhe com as variações das taxas das criptomoedas com a InstaForex.
Baixe o MetaTrader 4 e abra a sua primeira operação.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    PARTICIPE DO CONCURSO

Recommended Stories

Recomendações de negociação para o mercado de criptomoedas em 22 de abril

Bitcoin retorna à zona de US$ 88.000, mas a Ethereum está enfrentando desafios A liquidação de ontem durante a sessão dos EUA, mais uma vez desencadeada por um declínio

Miroslaw Bawulski 16:23 2025-04-22 UTC+2

Recomendações de negociação para o mercado de criptomoedas em 21 de abril

O Bitcoin e o Ethereum, que passaram o fim de semana inteiro se movimentando lateralmente dentro de uma faixa, dispararam durante a sessão asiática de hoje. A recuperação foi impulsionada

Miroslaw Bawulski 15:38 2025-04-21 UTC+2

Análise técnica do movimento intradiário de preços da criptomoeda Litecoin, quinta-feira, 17 de abril de 2025

Após romper com sucesso o padrão Cunha Ascendente Expansiva no gráfico de 4 horas da criptomoeda Litecoin, e considerando a divergência entre o movimento de preço e o indicador Stochastic

Arief Makmur 15:22 2025-04-17 UTC+2

Recomendações de negociação para o mercado de criptomoedas em 16 de abril

A pressão sobre o mercado de criptomoedas retornou ontem, após uma liquidação provocada por traders e investidores no mercado acionário dos EUA. Como já observei diversas vezes, a correlação entre

Miroslaw Bawulski 15:26 2025-04-16 UTC+2

Recomendações de negociação para o mercado de criptomoedas em 15 de abril

O Bitcoin fortaleceu sua posição razoavelmente bem, quase atingindo o nível de 86.000. O Ethereum também apresentou ganhos, mas os perdeu no final do pregão dos EUA. Com a diminuição

Miroslaw Bawulski 14:55 2025-04-15 UTC+2

Recomendações de negociação para o mercado de criptomoedas em 14 de abril

No último fim de semana, Bitcoin e Ethereum mostraram uma resistência razoável, mantendo vivas as chances de uma recuperação adicional. Embora, do ponto de vista técnico, essas probabilidades ainda pareçam

Miroslaw Bawulski 16:40 2025-04-14 UTC+2

Bitcoin – Visão geral da análise técnica

Na última semana de negociações, o mercado sinalizou uma possível oportunidade para os touros retomarem o controle. A concretização desse potencial agora depende de a força compradora conseguir sair

Evangelos Poulakis 14:47 2025-04-14 UTC+2

Trump dá mais um passo em direção ao mercado de criptomoedas

O Bitcoin e o Ethereum caíram no final do dia de ontem, mas depois conseguiram recuperar suas posições. Por enquanto, os vendedores ainda têm mais força do que os compradores

Jakub Novak 18:20 2025-04-11 UTC+2

Análise técnica do movimento intradiário de preços da Polkadot, sexta-feira, 11 de abril de 2025

A presença de uma divergência entre o movimento de preço da criptomoeda Polkadot (DOT) e o Oscilador Estocástico no gráfico de 4 horas sugere um possível movimento de alta

Arief Makmur 16:41 2025-04-11 UTC+2

Análise técnica do movimento intradiário de preços da Uniswap, sexta-feira, 11 de abril de 2025

Pelo gráfico de 4 horas da criptomoeda Uniswap (UNI), podemos observar uma divergência entre o movimento de preços e o Oscilador Estocástico, o que sugere um potencial de fortalecimento

Arief Makmur 16:38 2025-04-11 UTC+2
Não pode falar agora?
Faça sua pergunta no 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.