Bitcoin Analysis
Bitcoin’s price closed Tuesday’s daily session in green figures for the seventh time over the last ten days and +$257.
Today we’re looking back at Bitcoin’s previous two bear markets on the weekly time frame and Bitcoin’s price now relative to the BTC/USD 1W chart below from Roral. BTC’s price is trading between the 0 fibonacci level [$15,743.1] and the 0.113 [$21,751.9], at the time of writing.
Traders will note from the two previous bear markets that once the bottom was made on BTC there were months of consolidation and accumulation from bullish traders.
For bullish market participants to signal the bottom’s potentially in, they want to regain the 0.113 fib level followed by 0.236 [$28,292.5], 0.382 [$36,056.0], 0.5 [$42,330.7], and the 0.618 fib level [$48,605.3].
The bearish perspective is much different and bearish traders are still in control of the larger trend until bullish BTC market participants regain Bitcoin’s previous cycle high of
We współpracy z: https://en.cryptonomist.ch/2023/01/11/bitcoin-ethereum-gala-price-forecasting/
