If $38k is surpassed within November, then there's a good chance we could see a return to $50k within 2023. If November fails to break that level, instead facing rejection around $36.5 and failing to go higher for that 1M candle, then $50k will probably be a 2024 thing.
If it's a 2024 thing, then it will either be immediate or roughly halfway through the year.
Also, if it's a 2024 thing, then 2023 could finish around $27k.
If it happens in 2023, then be prepared for 2024 to retest all of those gains after briefly tiptoeing around $51k.
The retest that follows any return to $50k could easily go as low as $16k again, though the speed is hard to predict. Could be quickly and all within a month, could take the entire year as investor interest bleeds out.
If it's a 2024 thing, then it will either be immediate or roughly halfway through the year.
Also, if it's a 2024 thing, then 2023 could finish around $27k.
If it happens in 2023, then be prepared for 2024 to retest all of those gains after briefly tiptoeing around $51k.
The retest that follows any return to $50k could easily go as low as $16k again, though the speed is hard to predict. Could be quickly and all within a month, could take the entire year as investor interest bleeds out.
Note
looks to be the former option, 50k was approached about as fast as it could have during 2023, before wicking up the first month of 2024.late 2024 and most of 2025 will likely be a bear market.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.