DEC 19: #Bitcoin Daily chart:
Bitcoin daily chart is showing very interesting pattern. We can see 4 successful bear flag on chart in this year and downside breakout on 5th bear flag which indicate that BTC check down side area $15500 and $12k-$14k in worst condition.
But as its 5th bearish flag of the years so equal chance that market give surprise all as we are seeing bullish signal on weekly chart.
Resistance: $18400 is resistance on daily chart.
Global Market: We can see fear of Recession in Global market. Truth is that its hard to predict size (Time)
of Recession. We believe that major data on paper and we can see a slow lazy market in 2023.
What to do: If you are day trader than play with movement. But if you are positional trader or Investment than understand BTC cycle. Just like weather BITCOIN have a big event/season #Halving in each 4 year where block rewards reduce by 50%. This is tested and trusted season of Bitcoin.
$28k-$38k By H2 2022 and $50k-$150k by 2025
Bitcoin daily chart is showing very interesting pattern. We can see 4 successful bear flag on chart in this year and downside breakout on 5th bear flag which indicate that BTC check down side area $15500 and $12k-$14k in worst condition.
But as its 5th bearish flag of the years so equal chance that market give surprise all as we are seeing bullish signal on weekly chart.
Resistance: $18400 is resistance on daily chart.
Global Market: We can see fear of Recession in Global market. Truth is that its hard to predict size (Time)
of Recession. We believe that major data on paper and we can see a slow lazy market in 2023.
What to do: If you are day trader than play with movement. But if you are positional trader or Investment than understand BTC cycle. Just like weather BITCOIN have a big event/season #Halving in each 4 year where block rewards reduce by 50%. This is tested and trusted season of Bitcoin.
$28k-$38k By H2 2022 and $50k-$150k by 2025