(10/12, Wed) btc closed weak flat following the Nasdaq's movement
Yesterday(10/11 00:00 - 24:00, UTC+0), bitcoin price recorded its starting as $19121, its lowest as $18839, its highest as $19291, its closing as $19050. Bitcoin fell below $19k immediately after the start of Tuesday and then rebounded, reaching a high above $19k at 12:00, then falling again, reaching a low below $19k at 14:00, then fluctuating around $19k, closing weak flat.
Looking at the 4hr chart, it seems that the volume on the falling candle is greater than it on the rising candle, indicating the market mood. On the daily chart, it seems to be moving again by entering the box range that had been moving sideways around the end of September.
In the macro market, uncertainty in the UK market affects the US market as well, and US stock markets continued to decline. In the cryptocurrency market, the SEC once again rejected Wisdom Tree's Bitcoin ETF application, making crypto investors feel bad.
Upvoted! Thank you for supporting witness @jswit.
Hi @jhdklk853
Maybe the situation with the Bitcoin price action in the next few days will get more unstable than it is at the moment. Do you think the announcements made by the FED will affect the Bitcoin price again?
Upvote on the way.
Thank you for the upvote. I guess the daily trading volume has been decreasing since two weeks ago, and today's CPI announcement is likely to make a big move for Bitcoin.
Hello @jhdklk853
Unfortunately at this stage of the Bitcoin bear cycle there is a high correlation with the price action of traditional markets, and this is evidenced by the pullback that developed with the recent Fed actions.
Good morning @jhdklk853
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ps.
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cheers, Piotr