One thing I like is how it’s going up slowly. What you don’t want to see is a 20% day and it’s ends as a doji. So basically reverse of what was happening during the bear market which was a slow bleed down.
What I am worried about is the huge resistance at $25K. It’s a psychological number and if you look at the weekly chart, it’s am important pivot that Bitcoin needs to break to head into the $30K. Might be a tough battle in that area.
Topic: Bitcoin Price Predictions Come True as Valuations Slowly Emerge (Read 82 times)
January 29, 2023, 08:05:56 PM
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If BitcoinBTC price moves above the $24K level, a rally to the $1000 mark awaits the buyers. The market sentiment is looking good to trade with an upside bias in the coming week.
Consider also the monthly candle is about to close. It's very coincidental that we experienced that pump recently hours before the monthly candle closing.If BitcoinBTC price moves above the $24K level, a rally to the $1000 mark awaits the buyers. The market sentiment is looking good to trade with an upside bias in the coming week.
It will also be very bullish for Bitcoin if it will manage to close the monthly candle above $25,000, let's hope that.
We must still not be comfortable because if you zoom out the chart, on some cases or timeframes, we are still bearish.
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January 29, 2023, 01:46:41 PM
Next bitcoin halving is coming next year being 2024, so personally, I am not surprised at the current upward movement of the price of bitcoin, It is something I've expected to happen, a lot of persons are currently buying bitcoin in anticipation that it will reach a new all time high come next year as halving takes place.
Conclusion is that the currently price movement of bitcoin is one most of us have expected to come, but then I still cross my fingers to see where its heading in the coming days and weeks.
By the way, I think this post wil be better fitted in trading discussion board.
Conclusion is that the currently price movement of bitcoin is one most of us have expected to come, but then I still cross my fingers to see where its heading in the coming days and weeks.
By the way, I think this post wil be better fitted in trading discussion board.
January 29, 2023, 01:30:46 PM
BitcoinBTC price broke out of the box after a long movement.
The $23,840 mark appears as an immediate hurdle.
BitcoinBTC price broke out of the consolidation box and is showing an uptrend on the hourly chart. Price action refers to a bullish pattern as it forms high-lows on an ascending trendline. Buyers dominate the short term trend.
Speculators are set to book decent profits at the higher zone while the bears await a retest of the weekly swing high at $23,840 in bitcoin price to attempt a minor retracement. There will be a possibility of this short term selling
https://www.tradingview.com/x/ITMwDS3C/
So far the $23,400 level has turned into the most recent support, on the contrary, $23,800 could interrupt the ongoing trend before reaching $24K. A breakout of this narrow trading range could lead to a significant upward move.
The monthly halving is nearing completion, and on January 29, BitcoinBTC rallied by over 2.5%. This indicates that the bulls are aggressively participating in the market until they reach the $24K resistance as the market is consolidating.
About Technical Indicators
The traditional indicators on bitcoin are bullish as well as the rising trend line is an important defending zone for the bulls, so bitcoin price could again rally to this price point in the coming days. Usually, strong breakouts can handle market stability and can trap buyers if the price moves slowly.
Conclusion
If BitcoinBTC price moves above the $24K level, a rally to the $1000 mark awaits the buyers. The market sentiment is looking good to trade with an upside bias in the coming week.
The $23,840 mark appears as an immediate hurdle.
BitcoinBTC price broke out of the consolidation box and is showing an uptrend on the hourly chart. Price action refers to a bullish pattern as it forms high-lows on an ascending trendline. Buyers dominate the short term trend.
Speculators are set to book decent profits at the higher zone while the bears await a retest of the weekly swing high at $23,840 in bitcoin price to attempt a minor retracement. There will be a possibility of this short term selling
https://www.tradingview.com/x/ITMwDS3C/
So far the $23,400 level has turned into the most recent support, on the contrary, $23,800 could interrupt the ongoing trend before reaching $24K. A breakout of this narrow trading range could lead to a significant upward move.
The monthly halving is nearing completion, and on January 29, BitcoinBTC rallied by over 2.5%. This indicates that the bulls are aggressively participating in the market until they reach the $24K resistance as the market is consolidating.
About Technical Indicators
The traditional indicators on bitcoin are bullish as well as the rising trend line is an important defending zone for the bulls, so bitcoin price could again rally to this price point in the coming days. Usually, strong breakouts can handle market stability and can trap buyers if the price moves slowly.
Conclusion
If BitcoinBTC price moves above the $24K level, a rally to the $1000 mark awaits the buyers. The market sentiment is looking good to trade with an upside bias in the coming week.
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