Bitcoin and most major altcoins remain stuck inside a range as traders keep a close eye on next week’s macroeconomic events.
The United States equities markets are headed for a down week as market participants remain cautious ahead of next week’s key consumer price index data for November.
The CPI report will be followed by the Federal Reserve’s Federal Open Market Committee meeting on Dec. 13-14 where the central bank is expected to hike rates by 50 basis points, according to the FedWatch Tool.
The outcome of the events next week could increase the volatility in Bitcoin BTC $17,165 and result in a trending move.
After a terrible year that saw some high-profile cryptocurrency companies go bust, the bulls will expect 2022 to end on a strong note. Bears will also try to maintain their stronghold and extend the decline in the next year.
What is the path of least resistance in Bitcoin and altcoins? Let’s study the charts of the top-10 cryptocurrencies to find out.
Source : Cointelegraph.com