Bitcoin (BTC) makes traders speculate until the last minute near 2022 every year as volatility remains in the market.
BTC Price: Where is the volatility?
Data from Cointelegraph Markets Pro and TradingView show BTC/USD clinging to familiar territory around $16,500.
The pair continues to disappoint players on both sides of the trade after the Christmas tilt, ignoring the potential importance of weekly, monthly, quarterly and yearly candlesticks.
“Technical resistance and liquidity overhead suggest a sub $17k local top, but anything goes in the Wild Wild West,” Source Materials Indicator chain analytics write in the comments section of the Binance BTC/USD order book.
The attached chart shows a significant lack of support above $16,000, with resistance overhead at $17,000.
Looking a little beyond the near future, Arthur Hayes, former CEO of the BitMEX exchange, hopes that Bitcoin will not fall to its post-FTX floor of around $15,500.
“If $BTC can hold FTX levels, that’s positive. Let’s see what the new year brings,” he commented stated as part of the warning about the liquidity of the US dollar.
More categorical when it comes to bearish forecasts there is a popular trader Cypto Tony, who doubled down on the theory that more downside will precede Bitcoin’s recovery.
“It remains a macro view of Bitcoin that we see retreating lower before accumulating before the next bull,” he said toward Twitter followers.
Bitcoin dominance due to January boost
One small dose of good news for BTC bulls meanwhile comes from Toni Ghinea, who on December 30 eyes the dominant trend of the crypto market cap increasing.
Related: ‘Crypto winter’ won’t end in 2023 – Bitcoin advocate David Marcus
Despite also getting a new downside to suffer the price of Bitcoin, Ghinea now says that altcoins will bear the brunt of the anguish.
“BTC Dominion will push up in the next week. More pain for alts. to come,” he said tweeted on December 30.
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