While we feel Bitcoin marking time since March 20, it has found the resources to reach $30,000. This makes it possible to remain in the beautiful dynamic interview during the first trimester. Better still, this boost during the Asian session would largely validate signals likely to neutralize the bear market since November 2021.
By returning to $30,000, the price of Bitcoin has just closed the weekly gap of mid-June 2022. At the same time, the MACD continues its ride above the neutral line without showing signs of losing momentum. . With, in addition, the crossing of the descending line and two solidly installed supports (16,000 and $20,000), the lights would be green to envisage a gradual end to the bear market. This eventual scenario would steer Bitcoin towards $35,000 in the event of an extension above $30,000.
Nonetheless, caution is still warranted. Because tomorrow, the publication of inflation in the United States could turn everything upside down. Especially since the significant drop in commodity prices is not enough to bring inflation down to 2%, as the FED would like. Bad numbers that would assume an extension of monetary tightening, would potentially lead to a momentary rejection below $30,000. From a graphical point of view, the price of Bitcoin could test $25,000. The first worries would start if the support at $20,000 were to be breached. As we speak, the bulls are still in control.
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