2 more rate hikes? Bitcoin analyst counts down to ‘huge’ volatility
Bitcoin fails to respond even to a market-moving fake news event about an explosion at the Pentagon. Bitcoin stayed motionless after the May 22 Wall Street open amid suggestions that United States interest rates may keep rising. BTC/USD 1-hour candle chart on Bitstamp. Source: TradingView Bitcoin analyst eyes “capitulation by time” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling the range immediately below $27,000. Despite some brief volatility for stocks, Bitcoin (BTC) remained firmly trapped in a range that it first entered 10 days prior. For market commentators, the danger remained for a breakdown to result, with key trend lines such as the 200-week moving average (MA) potentially seeing a retest — or worse. “This relentless sideways chop is boring AF and presents some challenges to traders, but IMO it’s a healthy consolidation,” monitoring resource Material Indicators summarized. “The longer this continues, the stronger this zone gets as a present and ...