Bitcoin like most other high risk assets are seeing a decrease in demand because of the state of the economy, therefore nobody can accurately predicts its rash movements. All we can do is look at the hand we've been dealt and play accordingly, so lets look at the cards in our hand.
Our biggest obstacle is the downwards sloping resistance coming in all the way from $69 000. 2nd is the resistance from $29 000.
Another rejection from this resistance could possibly lead BTC to fall towards the next biggest support near $14 000.
BTC has still held monthly support @$20 000 so this could be a good support on a monthly timeframe, bare in mind Bitcoin could go to $14000 and still hold the monthly $20 000 support although unlikely.
I only see a move being confirmed once we successfully break, retest, hold the downwards slopping resistance and break the $29 000 level. We could still be trading withing these ranges well into mid 2023 as we are looking at a bigger timeframe.
Heres an article that covers important dates and news. Have a great day
cointelegraph.c...tcoin-this-week?utm_source...
Our biggest obstacle is the downwards sloping resistance coming in all the way from $69 000. 2nd is the resistance from $29 000.
Another rejection from this resistance could possibly lead BTC to fall towards the next biggest support near $14 000.
BTC has still held monthly support @$20 000 so this could be a good support on a monthly timeframe, bare in mind Bitcoin could go to $14000 and still hold the monthly $20 000 support although unlikely.
I only see a move being confirmed once we successfully break, retest, hold the downwards slopping resistance and break the $29 000 level. We could still be trading withing these ranges well into mid 2023 as we are looking at a bigger timeframe.
Heres an article that covers important dates and news. Have a great day
cointelegraph.c...tcoin-this-week?utm_source...