BTC 2023 Price Analysis, a Sideways Outlook, Consistent PatternsBITCOIN BNC:BLX BINANCE:BTCUSDT
Hello Traders,
Based on historical trends, #BTC is expected to experience a sideways market in 2023. Patterns from previous halving years and bear market capitulation highlight consistent characteristics. Notably, end-of-year prices consistently double from the beginning-of-year levels. This suggests #BTC will likely hover around the 30k price level throughout 2023, despite potential fluctuations of 20k or 40k.
Halving Year Preceding Period:
One year before the halving event, BTC exhibits price stability, indicating a consistent level in 2023.
Bear Market Capitulation:
Bear market capitulation historically occurs in December, marking a significant low point before potential reversals or consolidation.
Sideways Years:
Years 2015, 2019, and 2023 demonstrate sideways price movement, lacking significant upward or downward momentum.
Similarities and Patterns:
Bounced from Electricity Cost Level:
BTC tends to bounce from the electricity cost level, indicating price rebound near mining costs.
End-of-Year Price Level Doubling:
End-of-year prices consistently double the beginning-of-year levels, reflecting a recurring trend of price appreciation.
#BTC is expected to have a sideways year in 2023, with stability around the 30k price level. Consistent patterns of bear market capitulation, sideways years, and doubling end-of-year prices support this outlook. Traders should anticipate fluctuations but expect BTC to end the year near 30k.
At the time to charting this, #BITCOIN was trading 27124
will #BITCOIN make it or break it ?
Lets see how Time and Price Action unfolds Patters,
Always DYOR ✔️
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managing emotions, and staying adaptable.
Trade well my friends,
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