Bitcoin Returns Colors – There fed The decision to return to the 25 bps rate, a decision that did not surprise him, is gone. The banking crisis will continue with the Western Alliance Bank which tumbles more than 50%. For his part, the bitcoin price Try to maintain your level at $29,000. Will Bitcoin come back above $30,000?
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Bitcoin price climbs 2.35% in 24 hours
The rise in rates did not create any surprises, and the bitcoin price in profit for return of colors. Indeed, you BTC 2.35% reduction in 24 hours:
Despite the rise, the price remains in the red in one week. The course poster joined 23.5% increase in three monthsand of 35% in six months. Buyers and sellers continue to neutralize on the course of the BTC / ETH pair.
Towards a new high for the dominance of Bitcoin?
The dominance of Bitcoin has allowed know where the capital is going. After many boys, notice the operators turn to him king of cryptocurrencies. Bitcoin dominance is near a new high :
In the event of a fence above 48.9%the dominance of Bitcoin confirms the bullish trend initiated after the end of 2022. The price rebounded at the level of the institutional bias (EMA 9/EMA 18) bullish, it could continue to act as dynamic support. In this case, altcoins will have a hard time expressing themselves, as most altcoins currently do. in case of strong dismiss and changing momentum, altcoins could take advantage of the capital turnover (Red Arrow).
The RSI retains the bullish line trend, the bulls still have their hands on the momentum at the moment. A breakout of this trend could be a first trend change signal.
Does the Bitcoin price confirm in the short term?
Bitcoin regains momentum with bottoms and bottoms rising after the close above $28,870. In addition, the price has once again break the bearish trendline in 4H :
The price moves above the support at $28,500bidders on the possibility of returning to $30,000or even at the level of resistance at $30,500. It will be necessary to break this resistance on the side of the buyers.
The RSI to return to the level of the bearish trend, displays a trend with rising lows and highs. Buyers have their hands on short-term momentum.
the course of Bitcoin recovered after the Fed meeting. Buyers need to hold the price above the support at $28,500 in 4H. If the buyers push, the price could once again estimate above the psychological zone at $30,000. Will sellers finally capitulate?
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