{"id":7413,"date":"2022-09-26T16:54:36","date_gmt":"2022-09-26T16:54:36","guid":{"rendered":"http:\/\/cryptoheretostay.com\/?p=7413"},"modified":"2022-09-26T16:54:37","modified_gmt":"2022-09-26T16:54:37","slug":"traders-brace-for-bitcoin-price-volatility-as-dxy-2022-gains-near-20","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=7413","title":{"rendered":"Traders brace for Bitcoin price volatility as DXY 2022 gains near 20%"},"content":{"rendered":"<script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script>\n<p>Bitcoin (BTC) volatility edged higher during Sept. 26 as the Wall Street open avoided significant losses.<\/p>\n<p><em>BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/p>\n<h2>Monthly close tipped to shake up BTC price<\/h2>\n<p>Data from Cointelegraph Markets Pro and TradingView showed BTC\/USD circling $19,000 on the day, with hourly candles of 1.5%\u20132% not uncommon.<\/p>\n<p>The pair was expected to break out of its narrow trading range in the short term, having consolidated since Sept. 22.<\/p>\n<p>For Micha\u00ebl van de Poppe, founder and CEO of trading firm Eight, a tap of the area at the top of the range should signal acontinuation higher.<\/p>\n<p>\u201cTheory still stands for Bitcoin,\u201d he told Twitter followers on the day. <\/p>\n<p>\u201cCrucial area at $18.6K holds for support, which we&#8217;ve been testing multiple times. Another test of the $19.4K\u201319.5K area (which we&#8217;ll be doing soon) is, most likely, giving a breakout to the upside. I&#8217;m targeting $20K and $22.5K.\u201d<\/p>\n<p>On-chain analytics resource Material Indicators agreed on volatility returning.<\/p>\n<p>\u201cBTC is trading in a tight range. Volatility will increase as the week progresses toward the Monthly Close, which coincides with Monthly and Quarterly Options expiry,\u201d it wrote in a Twitter thread on the current state of the market. <\/p>\n<p>\u201cIf bulls can manage a green M close above $20k, technical resistance is at the key MAs.\u201d<\/p>\n<p>Eyeing a longer-term range, meanwhile, fellow trader and analyst Josh Rager suggested that an optimistic scenario could see BTC\/USD echo its growth from the first half of 2019. <\/p>\n<p>\u201cUncertain if a bottom is in for Bitcoin but if $BTC price starts making its way back up to $24k+, I&#8217;ll certainly be paying attention,\u201d he tweeted. <\/p>\n<p>\u201cNot saying that history will repeat but April &#8217;19 took most people by surprise.\u201d<\/p>\n<p>Rager acknowledged that the macroeconomic environment this year was \u201cdifferent\u201d from 2019.<\/p>\n<p><em>BTC\/USD monthly returns chart (screenshot). Source: Coinglass<\/em><\/p>\n<h2>Dollar strength sees best ever year<\/h2>\n<p>On the macro topic, United States equities stabilized at the Sept. 26 Wall Street open, helping highly-correlated crypto to avoid downside volatility. <\/p>\n<p><strong><em>Related:\u00a0\u2018The bond market bubble has burst\u2019 \u2014 5 things to know in Bitcoin this week<\/em><\/strong><\/p>\n<p>The S&amp;P 500 and Nasdaq Composite Index were down 0.35% and 0.65% on the day, respectively.<\/p>\n<p>The U.S. dollar index (DXY) nonetheless looked primed to attack its latest twenty-year highs, having retraced only modestly after reaching 114.52 \u2014 its highest since May that year.<\/p>\n<p>2022 has marked the best year ever for DXY, now up over 18% since Jan. 1.<\/p>\n<p>\u201cThe 52-week percent change (lower-bound) is +21.3%, the highest rate of change since Q2 2015,\u201d Caleb Franzen, senior market analyst at Cubic Analytics, noted in part of a tweet on the day. <\/p>\n<p><em>U.S. dollar index (DXY) 1-month candle chart. Source: TradingView<\/em>\u201cThe trend will stabilize &amp; the RoC will normalize, but that doesn&#8217;t necessitate a decline in the $DXY.\u201d<\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/traders-brace-for-bitcoin-price-volatility-as-dxy-2022-gains-near-20\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin (BTC) volatility edged higher during Sept. 26 as the Wall Street open avoided significant losses. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Monthly close tipped to shake up BTC price Data from Cointelegraph Markets Pro and TradingView showed BTC\/USD circling $19,000 on the day, with hourly candles of 1.5%\u20132% not uncommon. The pair was [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7414,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[2],"tags":[],"class_list":["post-7413","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/7413","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7413"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/7413\/revisions"}],"predecessor-version":[{"id":7415,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/7413\/revisions\/7415"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/7414"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7413"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7413"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7413"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}