Week 11 BTC Bitcoin Analysis

by Mar 13, 2023Bitcoin Weekly Analysis, Weekly Analysis0 comments

According to the previous week’s analysis, in Week 11 BTC Bitcoin Analysis Bitcoin has corrected to the $20,000 range.

Although many experts attribute this correction to the events at SVB Bank and the consequent depegging of stablecoins, this correction was perfectly expected from a technical and statistical standpoint.

The crypto market is currently confronting two significant causes, each of which can potentially affect the market’s direction: fundamental issues and the global economy, particularly the United States.

Fundamental factors like the position of stable currencies and the insolvency of crypto firms pose a danger to the industry. The Federal Reserve, on the other hand, raised the interest rate to 0.5%. Whether the Federal Reserve will do this is a specific issue that will be explored in a separate post, but these are the present market risks.

BTCUSDT for Week 11 BTC Bitcoin Analysis

Technically, for Week 11 BTC Bitcoin Analysis, Bitcoin is on decent support but has lost the $23,000 support, a significant resistance for Bitcoin. This Week 11 BTC Bitcoin Analysis, Bitcoin returns to the $23,000 range before continuing its corrective movement to the $19,000 area. Traders should remember that the market’s downward trend is not done, and there is a risk of lower floors in the medium term, so they should be extra cautious while gathering the spot portfolio for investment.

See also  Week 7 BTC Bitcoin Analysis

Recent News

Recent Posts


Submit a Comment

Your email address will not be published. Required fields are marked *

Related Post

Weekly Altcoins Analysis 2023

Weekly Altcoins Analysis 2023

September 18 Altcoins Analysis Due to the range of Bitcoin in the areas mentioned in the analysis and the position of BTC.D, a strong negative divergence can be seen in its RSI chart. In case of a fall, it provides the opportunity for temporary growth and pumps for...

Weekly Bitcoin Analysis 2023

Weekly Bitcoin Analysis 2023

September 18 Bitcoin Analysis Despite the inexplicability of the Bitcoin chart, the USDT.D chart can help us in this week's analysis more easily at this stage. Currently, USDT.D has reached an important resistance area, which has reacted to it 5 times and rejected...

Week 18 Altcoins Analysis

Week 18 Altcoins Analysis

Week 18 Altcoins Analysis, we anticipate a gradual fall from Bitcoin to the $24,000 region, as indicated in the BTC analysis. This head and shoulders pattern is being completed by BTC.D, which is also in the 4-hour time frame at the rising channel's ceiling. As a...