Bitcoin (BTC<\/a>) teased more volatility at the Dec. 30 Wall Street open with BTC\/USD heading ever closer to $16,000.<\/p>\n Data from Cointelegraph Markets Pro<\/a> and TradingView<\/a> showed BTC\/USD wicking down to lows of $16,337 on Bitstamp.<\/p>\n The pair had been gradually upping the volatility in the days after Christmas, as analysts eyed the likelihood of a final burst of action before the yearly close.<\/p>\n \u201cLast trading day of the year for TradFi, but crypto will trade through the holiday weekend. Perhaps we may see some of that long awaited BTC volatility around the Weekly\/Monthly close and the start of 2023,\u201d on-chain analysis resource Material Indicators ventured<\/a>.<\/p>\n Popular trader and analyst Rekt Capital noted<\/a>\u00a0that \u201chistorically, a strong indicator of where the $BTC bottom is is when the bearish BTC Candle 2 performs its Yearly Close.”<\/p>\n Rekt Capital was discussing Bitcoin\u2019s four-year halving cycles, with the year after the halving traditionally one of overall losses.<\/p>\n The worst could be in by the end of the week, he thus argued, \u201cand whatever downside wicking occurs in the following Candle 3 is just a bonus for bargain buyers.\u201d<\/p>\n On lower timeframes, the picture remained unclear, with BTC\/USD stuck in a narrow range still $1,000 above its multi-year lows from Q4.<\/p>\n Order book data from Binance uploaded by Material Indicators showed a lack of tangible support between spot price and $16,000, with resistance stacked at $17,000 and higher.<\/p>\n As Cointelegraph reported<\/a>, predictions for Q1, 2023 range from a recovery above $20,000 to a fresh shock for bulls in the form of a trip below $10,000.<\/p>\n On macro, United States equities opened to modest losses, the S&P 500 and Nasdaq Composite Index both down nearly 1% at the time of writing.<\/p>\n Related:\u00a0Bitcoin ‘not undervalued yet’ says research as BTC price drifts nearer $16K<\/a><\/em><\/strong><\/p>\n The U.S. dollar also looked unable to book fresh gains in time for the end of the year, with the U.S. dollar index (DXY) continuing a downtrend to circling six-month lows.<\/p>\n \u201cKeep an eye on the U.S. Dollar Index DXY here! A breakdown could increase momentum for bullish market dynamics,\u201d a hopeful Caleb Franzen, founder of Cubic Analytics, told<\/a> Twitter followers on Dec. 29. <\/p>\n \u201cThe Fed is still tightening, with balance sheet reductions likely to become a significant factor in 2023. Still, risk assets might have some reprieve soon.\u201d<\/p><\/blockquote>\n The views, thoughts and opinions expressed here are the authors\u2019 alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.\n<\/p>\n<\/div>\n![](\"https:\/\/s3.cointelegraph.com\/uploads\/2022-12\/1099132b-f25e-423f-86aa-b6d60d6f8a00.png\")
Will new year deliver “long-awaited volatility?”<\/h2>\n
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Risk assets could see “some reprieve”<\/h2>\n
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