Are you ready? Bitcoin pundits prepare for BTC price to make a big move this month.
BTC/USD annotated chart. Source: Il Capo of Crypto/ TwitterWhile little is expected from the Federal Reserve in terms of direct policy changes this week, there is still plenty of firewood for crypto volatility set to be provided by external forces.
“In my mind, the odds of a low coming in the next week or two are decently high,” Raoul Pal, founder and CEO of RealVision, predicted overnight alongside an accompanying chart: Beyond stocks, the U.S. dollar index was mercifully motionless into the new week, so far avoiding another attack on twenty-year highs seen earlier.hinted“A crucial area for Bitcoin, as it's still hovering in the range for more than a month,” he“It needs to break $19.4-19.6K clearly. If that happens, volatility can finally kick in. Given the structure of the $DXY and the Yields, I expect this to occur in 1-2 weeks.
Trading account Stockmoney Lizards confirmed that it “100% agreed” with the idea, which uses the 3-day chart.The 2018 RSI breakout structure involved a dive from $5,500 to $3,100 for BTC/USD — or roughly 40%.in a related video about the idea. The “hodled or lost coins” metric put the tally at 7,554,982.124 BTC — or 40% of the current supply — as of Oct. 17, meaning that more BTC is off the market than at any time since late 2017.continuing
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