2022 /2023 has seen Bitcoin find its floor (previous ATH) and is approaching the top of the descending channel.
- Near-Term: A temporary break of the 200 WMA (Bull trap). BTC might stop short of $30k now, with a target of $26,500 late March -
- Long-Term: Scenario expects price to trend sideways around the $23k range for the rest of 2023 under the 200 WMA. Break of descending channel mid-summer. Move up to the $40ks late 2023/early 2024 in-line - with Halving. Good trading potential if this is the case but not great fun for HODLers and folk sitting on leveraged longs.
- Counter-Trend: Macro forces could course correct, high likelihood to the downside.
Scenario Recommendation - Plan to only trade the $20k to $26k range in 2023. No moon shot for BTC
Best, Hard Forky
Break into Channel
Mid-Channel
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btc about to break up to $23k
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invalidated after failing to hold the break of resistance. If it slips target bounce would be $20k
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I would like to see a decent dip here - target woul be $19k
