Bitcoin 2023 First UpdateHello Traders
First of all, happy 2023, wishing you all a profitable year.
I started my analysis and will post daily, except on the weekends.
As you can see in the chart above, the price was ranging in the previous weeks due to the holidays and volume decrease.
I saw a significant movement in the network today, and I believe price can see higher prices, but first, the price needs a correction before the price continuation.
I screenshotted a metric from Glassnode called net Realized Profit/loss, which shows how much of the moved bitcoin was in profit or loss. Since the network mainly was in profit, we can indicate that the price can have a correction to lower levels.
Note that this is an Intraday analysis and is only valid for a couple of days or even hours.
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What is your opinion? Comment below.
If you like the idea, please hit the boost button and follow me so you will get the updates. The information given is never financial advice. Always do your research too.
Good luck.
