{"id":170582,"date":"2023-10-09T02:45:24","date_gmt":"2023-10-08T21:15:24","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=170582"},"modified":"2023-10-09T02:45:24","modified_gmt":"2023-10-08T21:15:24","slug":"bitcoin-where-will-volatility-take-prices-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-where-will-volatility-take-prices-crypto-news\/","title":{"rendered":"Bitcoin: Where will volatility take prices? &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><i><span style=\"font-weight: 400\">Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion.<\/span><\/i><\/p>\n<ul>\n<li style=\"font-weight: 400\"><em><span style=\"font-weight: 400\">September US CPI data will be released on 12 October.\u00a0<\/span><\/em><\/li>\n<li style=\"font-weight: 400\"><em><span style=\"font-weight: 400\">Sell limit orders were placed at $28.5k, $29k, and $29.5k.\u00a0<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">On 6 October, <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/BTC\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">Bitcoin [BTC]<\/span><\/a><span style=\"font-weight: 400\"> price spiked and retested $28k following the resilient US Labor market in September. According to the US Bureau of Labor Statistics (<\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bls.gov\/news.release\/empsit.nr0.htm\" data-wpel-link=\"external\"><span style=\"font-weight: 400\">BLS<\/span><\/a><span style=\"font-weight: 400\">), September payroll employment increased by 336k, and unemployment remained at 3.8%.<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center\"><span style=\"font-weight: 400\">Read <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/predictions\/bitcoin-price-prediction\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">Bitcoin\u2019s [BTC] Price Prediction<\/span><\/a><span style=\"font-weight: 400\"> 2023-24<\/span><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400\">The positive labor data could prompt a hawkish stance from FOMC in the next meeting in November. However, the September CPI (Consumer Price Index) data, scheduled for 12 October, could clarify the Fed\u2019s rate decision in November.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">In the previous BTC price action <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/bitcoin-rockets-past-local-resistances-but-is-this-the-start-of-a-bull-run\/\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">analysis<\/span><\/a><span style=\"font-weight: 400\">, AMBCrypto correctly predicted a spike above $28k before a retracement toward $27.5k driven by a liquidity hunt.\u00a0<\/span><\/p>\n<h4>Which way for Bitcoin price during CPI volatility?<\/h4>\n<div id=\"attachment_349400\" style=\"width: 1960px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/BTCUSDT_2023-10-08_11-27-27.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-349400\" class=\"size-full wp-image-349400\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/BTCUSDT_2023-10-08_11-27-27.png\" alt=\"Bitcoin\" width=\"1950\" height=\"1108\" \/><\/a><\/p>\n<p id=\"caption-attachment-349400\" class=\"wp-caption-text\">Source: BTC\/USDT on TradingView<\/p>\n<\/div>\n<p><span style=\"font-weight: 400\">BTC has shown a trend of retesting price imbalances or liquidity areas. Buyers have used the price imbalance of $27.0k \u2013 $27.2k (orange) since 2 October to re-enter the market.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The recent rejection and high of $28.5k was also a previous low in early August. Above the level lays another price imbalance of $28.7k \u2013 $29.0k (white), bordering a daily bearish OB of $29.0k -$30.4k (red).\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">As such, we could expect BTC to retest the above overhead resistances ($28.5k, $29k, or $29.5k) if the Thursday CPI data favors bulls.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Conversely, bulls are expected to defend the price imbalance and the demand area of $27.0k \u2013 $27.2k.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Any drop below the area ($27k) could weaken BTC to $26.4k or daily bullish OB, especially if the September CPI favor sellers.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Meanwhile, buying pressure was positive, as RSI showed, but spot market demand has fluctuated in the past few days, as illustrated by wavering OBV. Besides, CMF labored below zero, indicating capital inflows into the BTC market remained muted.\u00a0<\/span><\/p>\n<h4>Sell limit orders at $28.5k and $29k<\/h4>\n<div id=\"attachment_349403\" style=\"width: 1916px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/BTC-MobChart.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-349403\" class=\"size-full wp-image-349403\" src=\"image\/svg+xml,%3Csvg%20xmlns=\" alt=\"Bitcoin\" width=\"1906\" height=\"741\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/BTC-MobChart.png 1906w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/BTC-MobChart-300x117.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/BTC-MobChart-1024x398.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/BTC-MobChart-768x299.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/BTC-MobChart-1536x597.png 1536w\" data-lazy-sizes=\"(max-width: 1906px) 100vw, 1906px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/BTC-MobChart.png\" \/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-349403\" class=\"size-full wp-image-349403\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/BTC-MobChart.png\" alt=\"Bitcoin\" width=\"1906\" height=\"741\" \/><\/a><\/p>\n<p id=\"caption-attachment-349403\" class=\"wp-caption-text\">Source: MobChart<\/p>\n<\/div>\n<p><span style=\"font-weight: 400\">Based on order flow analysis from MobChart <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/mobchart.com\/\" data-wpel-link=\"external\"><span style=\"font-weight: 400\">data<\/span><\/a><span style=\"font-weight: 400\">, BTC could see price reaction at $28.5k, $29k or $29.5k. There were considerable sell limit orders at these levels. On Binance Exchange alone, the $28.5k and $29k had 145 and 157 BTCs for sale, respectively, at press time.\u00a0<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center\"><span style=\"font-weight: 400\">Is your portfolio green? Check out the <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/calculator\/bitcoin-profit-calculator\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">BTC Profit Calculator<\/span><\/a><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400\">On the other hand, buy limit orders were at $27.2k and $27.0k. The above buy and sell limit order placement levels coincided with key liquidity levels, as Coinglass\u2019s Liquidation <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coinglass.com\/pro\/futures\/LiquidationMap\" data-wpel-link=\"external\">Map<\/a> showed<\/span><span style=\"font-weight: 400\">.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">So, we could see extended BTC price fluctuations between $27k and $28k-$29k in the next few days.\u00a0<\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion. September US CPI data will be released on 12 October.\u00a0 Sell limit orders were placed at $28.5k, $29k, and $29.5k.\u00a0 On 6 October, Bitcoin [BTC] price spiked and retested $28k following the resilient US [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":170583,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-170582","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/170582","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=170582"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/170582\/revisions"}],"predecessor-version":[{"id":170585,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/170582\/revisions\/170585"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/170583"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=170582"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=170582"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=170582"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}