BTC probably in the final weeks of its mega-correction
It's almost an impossibility to predict an exact bottom, even as a price area not a price point, especially in a market so volatile and wild as crypto. But to me, BTC's price is approaching its bottom area, technically at least, as I have tried to indicate is several previous posts. Fundamentally, the USD interest rate is also reaching its peak (which will probably be somewhere between 5 and 6). It's another reason why financial markets can probably recover sooner or later in 2023.
We still have our eys on the RSI breakage and divergence, which is beautifully playing out, and will prove itself in the long run. The bottom can be somewhere between 15k and 11800, depending on buyers' tendency and swiftness and on sellers' give-up time. This is not to say that below 10k is utterly impossible, however! We should be ready for the worst case scenario as well.
And to finish, I would like to remind investors the time when BTC was peaking above 60k and analysts who gave 150k and 300k targets for the bull run, without having any idea about the market's systematic behavior in its history and world's financial problems. Today, we still see similar analysts who give 3k and 1k and even less targets for this bear run!
Always study and read others' opinions and analyses, but also always DYOR and believe in yourself, even if it leads to a loss. These losses will make you a more solid and self-aware winner in the future.
As always, no financial advice! DYOR!
Best of luck
We still have our eys on the RSI breakage and divergence, which is beautifully playing out, and will prove itself in the long run. The bottom can be somewhere between 15k and 11800, depending on buyers' tendency and swiftness and on sellers' give-up time. This is not to say that below 10k is utterly impossible, however! We should be ready for the worst case scenario as well.
And to finish, I would like to remind investors the time when BTC was peaking above 60k and analysts who gave 150k and 300k targets for the bull run, without having any idea about the market's systematic behavior in its history and world's financial problems. Today, we still see similar analysts who give 3k and 1k and even less targets for this bear run!
Always study and read others' opinions and analyses, but also always DYOR and believe in yourself, even if it leads to a loss. These losses will make you a more solid and self-aware winner in the future.
As always, no financial advice! DYOR!
Best of luck
