In the last hours of 2022, traders are greeted by little new BTC price movement, with Bitcoin avoiding any kind of last-minute trend change.
Bitcoin kept investors wondering till the very end of the 2022 annual close as market volatility stayed absent.Bitcoin kept investors wondering till the very end of the 2022 annual close as market volatility stayed absent.
Bitcoin price: Where is the turbulence?
BTC/USD was seen holding to a well-known region around $16,500 according to data from CoinRegency Markets Pro and TradingView.
Following a sideways Christmas, the pair failed to recognise the possible importance of the simultaneous closing of the weekly, monthly, quarterly, and yearly candles.
“Technical resistance and overhead liquidity suggests sub $17k local top, but anything goes in the Wild Wild West,” source for on-chain analytics Material Indicators wrote about the Binance BTC/USD order book as part of their commentary.
A chart that went with it, however, showed that there wasn’t much support above $16,000, and that resistance was up at $17,000.
Former CEO of the exchange BitMEX Arthur Hayes hoped that Bitcoin would not drop below its $15,500 post-FTX floor when looking slightly beyond the close.
“If $BTC can hold FTX lows that’s positive. Let’s see what the new year brings,” portion of remarks made as part of a caution regarding the liquidity of the US dollar.
Popular trader Cypto Tony, who reaffirmed his preexisting notion that additional downside will precede Bitcoin’s rebound, was more categorical in his pessimistic predictions.
“This remains my macro outlook on Bitcoin where we see another pullback lower before accumulation prior to the next bull run,” he told Twitter followers.
Bitcoin dominance due a January boost
Meanwhile, Toni Ghinea provided a little dose of encouraging news for Bitcoin bulls on December 30 when he noted an upward trend in the domination of the cryptocurrency market cap.
Ghinea now said that altcoins would suffer the most, but also predicting new negative to affect Bitcoin price behaviour.”BTC Dominance will push up in the next weeks. More pain for alts. is coming,” he tweeted on Dec. 30.