Bitcoin 2023 | Multiple Higher Lows Since 2022 | $20,960 Target

1 Jan 2023

Welcome to 2023! ... What will the new year brings us?
What will the first of January of this new year crypto-deliver?

I hope you had a great New Years Eve and also enjoyed your holidays... A green bitcoin can surely add to positive vibes/a good start. 😄

And the charts continue to look good after almost two months of consolidation.

Multiple Higher Lows

• 30-Dec. Bitcoin hit a higher low compared to 19-Dec.
  
• 19-Dec. we have a higher low compared to 28-Nov.
  
• 28-Nov. marks a higher low compared to 21-Nov.
  

Since the year 2023 is just starting we can go back to basics and read all the classic signals...

• We have an ascending channel.
  
• BTCUSD is moving above EMA10 and EMA21.
  
• The RSI is on the bullish zone (50 or more).
  
• The 30-Dec. candle is a hammer with above-average volume.
  

Higher highs can lead to higher lows...

On a bullish breakout, the initial target short-term can be set at $17,370, followed by $18,056.

Above this level we have a few more resistances but the main one if a higher high shows up, should be $20,960 based on the Fibonacci golden ratio mixed with EW target expectation.

This setup remains valid/active above the 21-Nov. low, that is $15,487... Any trading above this level and we stay strongly bullish.

Patience is key!

Welcome my friend to 2023!

Namaste.