empty
16.05.2023 10:31 AM
Bitcoin approaches $28.2k level: what to expect ahead?

Bitcoin started the new trading week on a bullish note. The cryptocurrency price reached a level of $27.5k at one point, but it failed to consolidate above this mark. Subsequently, the bears took over, and BTC returned to the $26.5k level.

This image is no longer relevant

Despite the bearish sentiments in the market, the asset found local support near the $26.5k level. The strong support zone triggered a local price pullback, causing Bitcoin to settle above the $27k level. At this stage, this cryptocurrency movement should not be taken as a signal to reverse the trend.

Bulls' main target: $28.2k

If Bitcoin continues its upward movement and overcomes the local resistance level at $27.5k, the asset will pave the way to $28.2k. This level is the key target for the bulls, reaching which will finally complete the local correction cycle.

This image is no longer relevant

The neckline of the "head and shoulders" technical analysis pattern, which was fully worked out last week, runs near the $28.2k level. Also, the $28.2k mark serves as a powerful resistance zone where the downward trend level from April 14 passes. At that time, the price tested the $31k level and began to decline.

This image is no longer relevant

Considering all of the above, the main task for the bulls in the near future will be to finally end the bearish period. For this, a bullish breakout and consolidation above the $28.2k–$28.5k level is required. As of May 16, the bulls do not have the necessary potential, so further consolidation should be expected.

Negative scenario

If, in a positive scenario, BTC/USD makes a full bullish breakout of the $28.2k level, in a negative development, there could be several scenarios. The Bitcoin price can make a false breakout of the level and drop back to $26.5k. There is also a possibility that Bitcoin will fail to overcome the $28k mark.

This image is no longer relevant

In any of these scenarios, the probability of ending the bullish trend significantly increases. The asset will retest the $25k level and continue to decline to $24.6k, where the base of the bullish trend is. If the $28.2k breakout is unsuccessful, the potential for BTC's downward movement reaches the $23k mark.

BTC/USD Analysis

As of 08:00 UTC, BTC/USD managed to recover slightly in price and reach the $27.1k level. However, there is no talk of a full consolidation, as there is an active seller in the market. At the same time, there is a surge of buyers who managed to push the price up in another attempt to decline.

This image is no longer relevant

On Friday, May 12, the cryptocurrency price hit a local low at $25.8k. Obviously, in the coming days, we will see more bullish impulses and attempts to "climb" to the $28.2k mark. This is suggested by the growing network activity, which should be followed by an increase in trading volumes.

This image is no longer relevant

On the daily chart, the cryptocurrency's technical metrics point to a flat price movement. The stochastic and RSI continue to move sideways near the 40 level. Meanwhile, the MACD has exited the red zone but continues to decline.

This image is no longer relevant

On the 4H chart, we see the first signals for a likely development of an upward surge. The RSI has taken an upward direction, and the stochastic has formed a bullish crossover. The MACD has entered the green zone but retains a flat direction.

Conclusion

In the coming days, we will see more intraday price surges due to increasing BTC volatility. The labor market report publication on Thursday and the speeches by the Fed members on monetary policy on Friday will serve as catalysts for an increase in trading volumes, and we will see more active price movement.

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 con el Bitcoin para el 26 de junio según el sistema ICT.

El Bitcoin aún no ha podido superar la zona de los 110 000$ - 112 000$, pero nuevamente se mueve con confianza hacia su prueba. Como podemos ver, el bitcoin

Paolo Greco 08:30 2025-06-26 UTC+2

Análisis del par BTC/USD. El 25 de junio. El Bitcoin ha recobrado fuerzas

La estructura de ondas en el gráfico de 4 horas para el instrumento BTC/USD sigue siendo en general comprensible. Hemos visto una estructura descendente correctiva que concluyó su formación cerca

Chin Zhao 07:52 2025-06-25 UTC+2

Recomendaciones para operar con el Bitcoin el 25 de junio según el sistema ICT.

El Bitcoin aún no ha podido superar la zona de los 110 000$ - 112 000$, pero al parecer tendrá otra oportunidad. ¿Qué ocurrió durante la última semana? Donald Trump

Paolo Greco 07:52 2025-06-25 UTC+2

El Bitcoin y el Ethereum recuperan fuerza

El Bitcoin y el Ethereum se sienten bastante bien. Tras mantener el nivel de los $100 000 en el Bitcoin, los grandes compradores volvieron a hacer

Jakub Novak 13:55 2025-06-24 UTC+2

Recomendaciones para operar con el Bitcoin el 24 de junio según el sistema ICT.

El Bitcoin no logró superar la zona de los $110 000 - $112 000, pero al parecer tendrá otra oportunidad. ¿Qué ocurrió en los últimos dos días? Donald Trump finalmente

Paolo Greco 07:44 2025-06-24 UTC+2

Recomendaciones para operar con el Bitcoin para el 23 de junio según el sistema ICT.

El Bitcoin no logró superar el área de $110 000 - $112 000 y comenzó una segunda corrección, lo cual es claramente visible en el marco temporal diario

Paolo Greco 07:54 2025-06-23 UTC+2

Recomendaciones para operar con el Bitcoin el 20 de junio según el sistema ICT.

El Bitcoin aún no puede superar la zona de $110 000 - $112 000 y simplemente se mantiene en el mismo lugar. No es un flat tan claramente definido

Paolo Greco 07:32 2025-06-20 UTC+2

Análisis el par BTC/USD. El19 de junio. La reunión de la Fed no afectó al Bitcoin

El esquema de ondas del gráfico de 4 horas para el par BTC/USD se ha vuelto más complejo en los últimos meses. Hemos visto una estructura correctiva bajista que finalizó

Chin Zhao 11:04 2025-06-19 UTC+2

Recomendaciones para operar el Ethereum (Ethereum) para el 18 de junio según el sistema ICT.

El Ethereum, mientras tanto, continúa sin moverse del sitio junto con el Bitcoin. Hemos visto toda una serie de desviaciones en el marco temporal de 4 horas, pero ninguna

Paolo Greco 08:08 2025-06-18 UTC+2

Recomendaciones para operar el Bitcoin (Bitcoin) para el 18 de junio según el sistema ICT.

El Bitcoin aún no puede superar la zona de $110 000 - $112 000, pero parece que se dispone a hacer otro intento de superar esta zona. En nuestros últimos

Paolo Greco 08:08 2025-06-18 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.