Bitcoin price volatility due within days, new take says as BTC flatlines at $16.8K
, 2022-12-26 10:08:50,
Bitcoin (BTC) hodlers enjoyed another day of zero volatility on Dec. 26 as hopeful forecasts sought signs of a trend change.
Opinions diverge further over BTC price bottom
Data from Cointelegraph Markets Pro and TradingView confirmed more sideways action near $16,800 for BTC/USD on Boxing Day.
The pair took the holiday period in its stride, with reduced volumes having no impact on an already deflated market experiencing its lowest volatility on record.
With few trading opportunities in the last week of “Do Nothing December,” analysts attempted to ready the ship for potential headwinds to come.
“If BTC fails to reclaims ~$17,150 as support before the end of the year… Then $BTC will establish the $13900-$17150 range as its new playground,” Rekt Capital tweeted in a fresh update on the day.
“Therefore at worst, BTC could drop to the Range Low of $13900, Which translates to a -20% drop from current prices.”
Rekt Capital was referring to a previous theory involving support levels on the one-month BTC/USD chart.
Fresh downside remained a popular bet among commentators, with Il Capo of Crypto as insistent as ever about a new macro low being yet to come.
“I think most bears are expecting 10k, ignoring all the support before that level. 11k-13k is a very strong support that should hold,” he reasoned.
Responding, however, another popular trading account, Profit…
,
To read the original article from news.google.com Click here
Private Internet Access gives you unparalleled access to thousands
of next-gen servers in over 83 countries and each US state. Your
VPN experience will always be fast, smooth, and reliable.
