As most cryptocurrencies are slowly starting to recover from the коркуу менен шартталган FTX кыйроо, Bitcoin (BTC) is no exception, and its supporters refuse to stop believing in its кенен future, convinced by positive price indicators.
Indeed, experts over at the crypto analytics firm tradingshot бар байкалып an “interesting fractal analysis on different time-frames showing that if терминалдарда holds last week’s low, a strong rally in 2023 is possible.”
Specifically, the level that the experts said Bitcoin is supposed to hold for the said rally to be possible stands at above $16,628. If it does, the fractal analysis sees a bullish potential increase, perhaps even to $95,000 by 2024.
What do other indicators suggest?
Another positive техникалык анализ (TA) indicator is the 200-week жылма орто мааниси (MA), which for Bitcoin has remained positive, as prominent pseudonymous Bitcoin analyst and Dutch institutional investor known as PLANBE окшогон November 13 боюнча.
The analyst’s chart demonstrates Bitcoin’s price has stayed above the 200-week MA throughout the hardships that have engulfed the крипто-базар in recent months, including “another year, another exchange default,” as PLANBE noted, referring to the FTX liquidity crisis.
In a comment to the tweet, he also stressed:
More optimism in crypto sector
Ошол эле учурда, дагы бир псевдонимдүү крипто аналитик, Мурутбар белгиленген that Bitcoin was close to touching the trendline that “has already held for 5.5 years,” as he illustrated on a chart.
Optimism was also expressed by Robert Kiyosaki, the author of the жеке каржы китеби "Бай ата, кедей ата", who said he was “not worried” about the decentralized finance (толугу менен) token’s price movements.
Ошол эле учурда, Tesla (NASDAQ: TSLA) CEO and new Twitter (NYSE: TWTR) owner Elon Musk is also ишенимдүү that Bitcoin would survive the аюу базар, although he warned that it would be long before the asset realizes its full potential.
Bad signs stacking up against Bitcoin?
On the other hand, it is not all roses for the flagship digital asset, as analyst ghoddusifar ашуун CryptoQuant байкаган that “despite the relative gains in US запасы, Bitcoin lost a very important support level,” which “was the ATH of the previous cycle.”
Талдоочу баса белгилегендей:
“So far, there is no record of Bitcoin returning below the ATH of its previous cycle. This could indicate weakness in the cryptocurrency market in the near future and further price reductions in them.”
Earlier, Bitcoin’s at-the-money (ATM) implied volatility (IV) more than doubled during the last week, mimicking the movements of the FTX Token (FTT) at the time, while its салыштырмалуу күч индекси (RSI) had dropped to its weakest in history.
At press time, Bitcoin was changing hands at $16,763, recording a minor gain of 0.41% on the day while losing 19.10% across the week, according to data retrieved by Финболд November 14 боюнча.
In the meantime, Finbold has compiled three key tips on surviving the market crash, as provided by a former stockbroker commonly known as the “Wolf of Wall Street,” Jordan Belfort, including taking a three- or four-year horizon, not looking beyond Bitcoin and Ethereum (ETH), and not playing into the panic.
Disclaimer: Бул сайттагы мазмун инвестициялык кеңеш катары каралбашы керек. Инвестиция - бул спекулятивдүү. Инвестициялоодо сиздин капиталыңыз тобокелге салат.
Source: https://finbold.com/whats-ahead-for-bitcoin-in-2023-analysts-share-positive-indicators/