A Bitcoin Recap
Happy New Year's Eve, guys.
This is a Bitcoin recap.
On this chart, you can see Bitcoin coming up from the $300 area and also touching the $69000 area, which was the most substantial resistance.
Some might call that pump a bubble which isn't wrong.
However, the price is now in a massive bear market, correcting itself to the 11K area.
As you can see on this chart (log scale), the lower band of our solid support is around the 11K area, and the upper band is the 14K area.
The price can get stuck in that price range for a while and consolidate its way back up.
Although we can never be sure about this next pump until we actually enter that price range and see how the market reacts to it.
Many factors can affect the market, so we're just going to have to wait and see.
Starting from 2023, the price will decrease to the support range. It can take a couple of months for this to happen.
I wish you a Merry Christmas and a Happy New Year, fellow traders.
Let me know what you think about Bitcoin in 2022 and 2023.
Good luck!
This is a Bitcoin recap.
On this chart, you can see Bitcoin coming up from the $300 area and also touching the $69000 area, which was the most substantial resistance.
Some might call that pump a bubble which isn't wrong.
However, the price is now in a massive bear market, correcting itself to the 11K area.
As you can see on this chart (log scale), the lower band of our solid support is around the 11K area, and the upper band is the 14K area.
The price can get stuck in that price range for a while and consolidate its way back up.
Although we can never be sure about this next pump until we actually enter that price range and see how the market reacts to it.
Many factors can affect the market, so we're just going to have to wait and see.
Starting from 2023, the price will decrease to the support range. It can take a couple of months for this to happen.
I wish you a Merry Christmas and a Happy New Year, fellow traders.
Let me know what you think about Bitcoin in 2022 and 2023.
Good luck!
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