What's on the menu for BTC price action this week?
“Volume decreasing. Bollinger Bands squeezing on many time frames. Something has to give,” analyst Matthew HylandA look at volatility on the daily chart showed Bollinger Bands expanding with price testing the lower band at the time of writing on Nov. 21 — a suggestion that lower levels amid increased volatility are to come.Short-term upside targets nonetheless included a return to the latest CME Bitcoin futures gap at around $16,500.
Kibar had previously argued that “the longer price remains below 18K the higher the chances” of a return to $13,000.While inflation has been the major topic of discussion for anyone involved in risk assets in 2022, for crypto, the issue has taken a back seat. "Compared with September 2022, producer prices decreased by 4.2% in October 2022. This was the first month-on-month decrease since May 2020 ," an officialShould the inflation picture change dramatically for the better, the chances of a risk asset rebound should increase in step. The U.S. dollar meanwhile continues to struggle, with prior twenty-year highs still firmly out of reach., it is “game over” for the U.S.
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