Good morning crypto enthusiasts! Yesterday was the tension in our Discord Community Already to cut, because how would the bitcoin (BTC) price react to the large interest rate hikes announced from the Federal Reserve?
This is what happened to bitcoin while you were sleeping
Bitcoin is up 4% in the last 24 hours. The bitcoin euro price on the Dutch crypto exchange Bitvavo is at the time of writing €20,862. Since 6 o’clock this morning, our bitcoin price counter has been at -2.5% after the price fell a small after a short bounce pull back makes.
Global bitcoin trading volume increased 22% over the past 24 hour time frame† this is most likely related to the enormous volatility surrounding interest rate hikes from the Federal Reserve. For those who want to know something about the expectations for tomorrow. Get your Senseo machine on because we’re going to have a coffee today with none other than crypto analyst Dave the Wave!
Analyst comes with new bitcoin forecast
Dave the Wave, a cryptocurrency analyst with 115,000 Twitter followers, is best known for his prediction of the 2021 crypto crash. He shares many interesting analyzes on Twitter, including the analysis of the bitcoin price below. A clear analysis of BTC in this time is certainly not a luxury.
Dave uses several technical indicators when making his analyses. So it struck him that the Moving Average Convergence Divergence (MACD) of both the weekly and monthly chart is at the same level as we saw at the 2014 and 2018 lows.
Price now down through the weekly MACD line corresponding to lowest price last time round..
The same is confirmed on the monthly. pic.twitter.com/a9LVPXr59e
— dave the wave🌊🐫 (@davthewave) June 15, 2022
However, on the charts we see that the MACD could fall even lower, however, as with the previous bottoms, the price will move sideways. If we indeed follow the analysis and get similar price action as in 2014 and 2018, we will only go sideways in the coming months before breaking out again.
Bitcoin Price Predictions from Crypto Insiders Analysts
Earlier this week, our analysts predicted in Discord the following scenario. The chart below is still applicable at the time of writing (15 June 2022). Here the expectation is still that bitcoin based on Elliott Wave analysis may drop further as we are working on a wave 5. This wave 5 will also be the end of the downward price action as the larger waves are complete.
In addition, the downward dynamic trendline (thicker line on the chart) is also very important here for the bulls† If we break through this, it could just be red weeks for bitcoin. For the time being, we still see the green zone on the chart as a clear support zone.
If you have any questions about this analysis, please don’t hesitate to ask Discord Community for members.
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Disclaimer: Investing involves risks. Our analysts are not financial advisors. Always consult an advisor when making financial decisions. The information and tips provided on this website are based on our analysts’ own insights and experiences and are for educational purposes only.
