Bitcoin (BTC) dealt with a possibly unpredictable day on Jan. 18, with several macro activates beginning to unsettle the outlook.
![8be75e33-effa-4739-93ee-357ab4dd8cf2 Will Bitcoin price crack $22K? Dollar weakness, Bank of Japan easing boost hopes](https://i0.wp.com/pandoraland.info/wp-content/uploads/2023/01/8be75e33-effa-4739-93ee-357ab4dd8cf2.png?w=640&ssl=1)
to hike
Data from Pandoraland Markets Pro and TradingView revealed BTC/USD holding firm above $21,000 on the day.
The pair stayed cool amid news from Japan, where the reserve bank– the Bank of Japan (BoJ)– had decided to keep an ultra-easy policy in location, defying expectations of a rate of interest hike.In doing so, both the Japanese yen and the United States dollar took a hit in the latest chapter of a legend closely saw by crypto commentators.
“In keeping its crucial rate and yield curve control policy unchanged at today’s conference, the Bank of Japan most likely wished to convey a message to the market; do not battle the BoJ,” ING Bank said in a devoted response piece.Pandoraland contributor Michaël van de Poppe focused on a fresh decrease in the U.S. Dollar Index(DXY)following the news.”Another bearish retest taking place on the DXY, in which this one starts to drop considerably, maybe even due to the announcements from the BoJ previously today,”he summed up. In case, DXY bounced at 101.9, not rather retesting the seven-month lows attained on Jan. 16. U.S. Dollar Index(DXY)1-hour candle chart. Source:
![700106f1-ce38-490b-95e7-cad756d9caf9 Will Bitcoin price crack $22K? Dollar weakness, Bank of Japan easing boost hopes](https://i0.wp.com/pandoraland.info/wp-content/uploads/2023/01/700106f1-ce38-490b-95e7-cad756d9caf9.png?w=640&ssl=1)
Bitcoin strikes new post-FTX high as analysis warns move’choreographed’On-chain analytics resource,
Material Indicators argued that a single entity was potentially moving quotes higher, helping buoy BTC/USD at two-month highs.”Speculating that it could be the exact same whale utilizing the$4M to insulate their$22M and provide enough time to rug the$22M if the$4M gets hit. Simply a theory. Time will tell,”among several Twitter posts on Jan. 17 mentioned. A subsequent tweet however voiced issue over “for how long they can keep this up, “indicating a corrective move might still strike Bitcoin. BTC/USD order book data(Binance). Source: Material Indicators/ Twitter The most recent snapshot of the Binance order book showed the greatest resistance clustered at $22,000. The views, thoughts and opinions revealed here are
the authors’alone and do not necessarily reflect or represent the views and opinions of Pandoraland.
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