Comments from the Federal Reserve, an interest rate hike and data from this week’s CPI report have crypto and stock traders gearing up for a potentially volatile week.
While speaking with podcaster and independent market analyst Scott Melker, Hayes said that he believesthe “largest most irresponsible entities” have largely dumped their Bitcoin and “pretty much everyone who could go bankrupt has gone bankrupt.” Hayes expects Bitcoin to recover sometime in 2023.
Alternatively, if the price turns up and breaks above the 20-day EMA, it will suggest demand at lower levels. The index could then rise to the downtrend line. A break above this level could signal a potential trend change. The index could then rally to 4,300.The U.S. dollar index has been oscillating near the critical support of 105 for the past few days. The bears pulled the price below this level on Dec. 1 but the bulls purchased the dip near 104 and started a recovery on Dec. 5.
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