Bitcoin Could See a $37.5K Weekend Dip Before ‘Bigger Move’ Next Week – New Report

Bitcoin (BTC) is poised for a “bigger move” next week, a new analysis says as volatility faces a breakout situation.

in his last market updatetrading suite Decentrader told readers that the time would soon come to “pull the trigger” with liquidity if BTC’s price action goes up or down.

Analyst on BTC: “The Bigger Step Is Coming”

Bitcoin has made lower highs and higher lows throughout the week, while a falling wedge on lower timeframes sees volatility ebb.

Such a situation cannot last forever, and Decentrader’s Filbfilb still has a few days to go.

“We will continue to trade intra-day, low timeframes, keeping an eye on legacy markets and general developments in Ukraine to ensure we have a foothold in the market and are ready to pull the trigger either way when the time comes. there, which is fast approaching and somewhat unclear on the outcome at the moment due to the current environment, but I look forward to a more sustained move,” the update summarizes.

The assessment mimics that of Filbfilb’s note to Telegram channel subscribers earlier Friday, which nonetheless foresees potential lower levels over the weekend — specifically, returns below $40,000 for support of about $37,500.

“The bigger move is coming…next week I would think we’ll see some action,” it reads.

“In each of the last 3 weekends, Bitcoin made its way into demand territory, but pump weaker into the next week, so I don’t think it’s unreasonable to expect something similar again this week… price is currently supported by the 50 DMA, but we need to see weekly closes up there as I mentioned before.

Bitcoin’s 50-day moving average, as mentioned, is currently around $40,330 on Bitstamp, data from Coin-Crypto Markets Pro and Trading Display show.

BTC/USD 1-day candlestick chart (bit stamp) with 50DMA. Source: TradingView

Macro photo mimics decades-old riddle

Concerns that a macro trigger could put greater pressure on Bitcoin, meanwhile, are by no means limited to trading circles.

Related: ETH Derivatives Show Professional Traders Worried About Ethereum’s $2.5K Support

As Coin-Crypto reported Thursday, there is a pervasive sense that the coming medium-term range could be one of significant volatility pointing downward.

This is said to be due to inflationary pressures, reactions to the ongoing conflict between Ukraine and Russia and a growing desire to abandon reliance on the US dollar, the euro and other Western currencies.

Moving on, analysts argue, Bitcoin could still come out on top next to gold, but the process will likely be painful.

Filbfilb also hinted at the arrangement showing his colors in the future.

“Price action shows some strength for Bitcoin, in addition to negative funding and general negative sentiment, but Fed rate hikes and planned winding down will continue to cause liquidity problems for Bitcoin, at least in the near term which has yet to be recognized as the inflation-repelling asset it wants to be.” , explains the update.

“This is something that is likely to take some time, with less liquidity for major players and retail investors/traders who will simultaneously put pressure on their disposable income, something not seen in decades.”

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