{"id":9481,"date":"2022-12-30T23:51:35","date_gmt":"2022-12-30T23:51:35","guid":{"rendered":"https:\/\/cryptoheretostay.com\/?p=9481"},"modified":"2022-12-30T23:51:36","modified_gmt":"2022-12-30T23:51:36","slug":"btc-price-lurches-toward-16k-as-stocks-dollar-wobble-in-final-session","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=9481","title":{"rendered":"BTC price lurches toward $16K as stocks, dollar wobble in final session"},"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) teased more volatility at the Dec. 30 Wall Street open with BTC\/USD heading ever closer to $16,000.<\/p>\n<p><em>BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/p>\n<h2>Will new year deliver &#8220;long-awaited volatility?&#8221;<\/h2>\n<p>Data from Cointelegraph Markets Pro and TradingView showed BTC\/USD wicking down to lows of $16,337 on Bitstamp.<\/p>\n<p>The pair had been gradually upping the volatility in the days after Christmas, as analysts eyed the likelihood of a final burst of action before the yearly close.<\/p>\n<p>\u201cLast trading day of the year for TradFi, but crypto will trade through the holiday weekend. Perhaps we may see some of that long awaited BTC volatility around the Weekly\/Monthly close and the start of 2023,\u201d on-chain analysis resource Material Indicators ventured.<\/p>\n<p>Popular trader and analyst Rekt Capital noted\u00a0that \u201chistorically, a strong indicator of where the $BTC bottom is is when the bearish BTC Candle 2 performs its Yearly Close.&#8221;<\/p>\n<p>Rekt Capital was discussing Bitcoin\u2019s four-year halving cycles, with the year after the halving traditionally one of overall losses.<\/p>\n<p>The worst could be in by the end of the week, he thus argued, \u201cand whatever downside wicking occurs in the following Candle 3 is just a bonus for bargain buyers.\u201d<\/p>\n<p><em>BTC\/USD annotated chart. Source: Rekt Capital\/ Twitter<\/em><\/p>\n<p>On lower timeframes, the picture remained unclear, with BTC\/USD stuck in a narrow range still $1,000 above its multi-year lows from Q4.<\/p>\n<p>Order book data from Binance uploaded by Material Indicators showed a lack of tangible support between spot price and $16,000, with resistance stacked at $17,000 and higher.<\/p>\n<p><em>BTC\/USD order book data (Binance). Source: Material Indicators\/ Twitter<\/em><\/p>\n<p>As Cointelegraph reported, predictions for Q1, 2023 range from a recovery above $20,000 to a fresh shock for bulls in the form of a trip below $10,000.<\/p>\n<h2>Risk assets could see &#8220;some reprieve&#8221;<\/h2>\n<p>On macro, United States equities opened to modest losses, the S&amp;P 500 and Nasdaq Composite Index both down nearly 1% at the time of writing.<\/p>\n<p><strong><em>Related:\u00a0Bitcoin &#8216;not undervalued yet&#8217; says research as BTC price drifts nearer $16K<\/em><\/strong><\/p>\n<p>The U.S. dollar also looked unable to book fresh gains in time for the end of the year, with the U.S. dollar index (DXY) continuing a downtrend to circling six-month lows.<\/p>\n<p>\u201cKeep an eye on the U.S. Dollar Index DXY here! A breakdown could increase momentum for bullish market dynamics,\u201d a hopeful Caleb Franzen, founder of Cubic Analytics, told Twitter followers on Dec. 29. <\/p>\n<p>\u201cThe Fed is still tightening, with balance sheet reductions likely to become a significant factor in 2023. Still, risk assets might have some reprieve soon.\u201d<em>U.S. dollar index (DXY) 1-day candle chart. Source: TradingView<\/em><\/p>\n<p class=\"post-content__disclaimer\">The views, thoughts and opinions expressed here are the authors\u2019 alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.\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\/btc-price-lurches-toward-16k-as-stocks-dollar-wobble-in-final-session\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin (BTC) teased more volatility at the Dec. 30 Wall Street open with BTC\/USD heading ever closer to $16,000. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Will new year deliver &#8220;long-awaited volatility?&#8221; Data from Cointelegraph Markets Pro and TradingView showed BTC\/USD wicking down to lows of $16,337 on Bitstamp. The pair had been gradually upping [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":9482,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[2],"tags":[],"class_list":["post-9481","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\/9481","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=9481"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/9481\/revisions"}],"predecessor-version":[{"id":9483,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/9481\/revisions\/9483"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/9482"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9481"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9481"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9481"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}