Raise-X
Raise-X 1 minutes reading from Bitcoin

Bitcoin Price Outlook Gloomy For Week Ahead

WEEKLY MARKET REVIEW

BTC will likely range until the ending of November.

Here's why Thread/

Though the price action looks good for a rally to 20,300. We don't have enough momentum to push it at the moment. It might interest you to know that bitcoin's volatility fell below that of the stock market for the first time since 2020. 2/

The market is currently pricing in a projected 75 basis point hike in interest rate.

If we get a rate hike as expected, we may finally break out of the range toward the upside.

On the flip side, Bitcoin Exchange Inflow For Old Coins Has Observed Spikes In Recent Days there's an inflow of BTC from 3-5 year holder's wallets to centralized exchanges.

Until there's a clear direction which will most likely be caused by macro events like the cpi news, or on-chain activities like the -5yr holders selloff,

we'll range for a month still until the range channel becomes too tight and forces a breakout

We wish you a profitable week

This post is based on this twitter thread.

Comments

Please login to comment.