The last trading day of 2022 is only a little inspiring for the bulls to push the BTC prices action that is continuously going downhill.
BTC might tease volatility even further at 30th December as the Wall Street Opened With Bitcoin prices going close to sixteen thousand dollars.
Data from the Markets Pro by Cointelegraph and Trading View is showing that the BTC is wicking downwards on Bitstamp.
The dynamic research duo is increasing gradually and the volatility in the market since the days after Christmas.
Popular investor and researcher Rekt Capital stated that the negative BTC Candles 2 performing its Annual Close is “traditionally, a solid predictor of what the $BTC bottom is.”
Rekt Capital is talking about how Bitcoin’s 4 year halving cycles often result in an entire year of total losses.
He consequently suggested that “any downward that happens in the next Candle three is just a treat for bargain purchasers,” adding that “the worst might be in even by end of this week.”
The Prices Of BTC Lurking To Reach 16K:
The situation was still uncertain on shorter time scales, with BTC/USD trapped in a constrained range that was $1,000 beyond its multi-year downtrend from Quarter 4 at the moment.
Material Indications’ upload of open interest data through Binance revealed that there was no real support between the current price and $16k and that resistance was piled at that price and upwards.
As per Cointelegraph, forecasts for the first quarter of 2023 vary from a rebound beyond $20k to a new surprise for bulls inside the shape of a decline below $10k.
In terms of macro, American stocks started the day with small losses; at the moment of writing, both S&P 500 as well as Nasdaq Composite Index were both down close to 1%.