Bitcoin potentially can reach 47k

Hi everyone,

Bitcoin price not just reached 39k level, which was indicated in my previous idea, but broke it and pumped up to 44500 level. Bitcoin price already increased on over 160% since the begining of the year and again set a new yearly high at 44500.

There is one main level remained to reach and it's 47000. I remind that from this price level Bitcoin started to fall to 17k level in April 2022.
I'm not sure if Bitcoin will reach 47k level straight from the current price or there will be some correction first but reaching that level in the near future is very possible and kinda makes sense.

There is one thing to keep in mind is the upcoming deadline for Bitcoin ETF approval in mid January. Many pundits suggest that SEC will approve several Bitcoin ETF application at once already in January and probably by that time we will see Bitcoin at 47k after which real correction starts.

Please, do not forget to boost this idea & share it with your friends; thanks.

Comment:

There is some correction on Bitcoin which was expected.
It's well possible that we'll see next bull move after correction.

Comment:

Bitcoin slowly moving down. For now main support will be at 40k.
If BTC will stay above 40k then it's good sign for bulls, in case if it drops under then bear can take over for some time.
Note that there is CME gap at 39k so BTC well might go there to close it.
Let's see how it goes.

Comment:

Bitcoin price is accumulating in 40k - 44k price range.
Until BTC price stays above 39k-40k bulls are in control but if 39k support breaks then bears might take over in short term.
44k continie to be main local resistance which BTC price can't break. I suggest that there will be at least one more attempt to break it and if it breaks then we'll see 47k.

Comment:

Bitcoin price almost reached 46k price level and there is good chance that soon we can see BTC at 47k and higher.

Comment:

Bitcoin finally reached my target at 47k.
Yesterday it even almost reached 48k on the fake news of ETF approval.
I'll post my next Bitcoin idea only after there is some certainty about Bitcoin ETF approval since there is no much sense to post something before it.

Trade closed: target reached