Bitcoin (Bitcoin) is approaching the end of 2022 and reaching levels not seen more than two years ago — what do traders think will happen next?
BTC price roll-up from USD strength
Currently down 15% in Q4 and down more than 60% year-to-date, BTC/USD has few bullish allies as 2023 looms.
The biggest cryptocurrency to return all the gains seen since late 2020 as it struggles to recover from the ongoing FTX scandal and related repercussions marks the entire crypto market.
Like Cointelegraph, the risky asset itself is in a valuable position reportwhile also keeping an eye on the strength of the dollar heading into the new year.
Cointelegraph notes that some popular traders are divided on what the price of BTC will be in Q1 2023.
Crypto Tony: Short with daily range low target
One of the market participants who missed out on the final day of trading on Wall Street is Crypto Tony.
warned against traveling to $8,000 minimum Bitcoin Could Be Imminent With New Charts For December 30th Indicated Current price action weakness.
On the daily timeframe, BTC/USD has been below the Equilibrium Price (EQ) for a given range since FTX started, which is no longer holding as support.
A failed breakout at the range high means that the most likely target is currently the range low near $15,500.
“I’m still falling short and looking for a pushdown to Range Low as highlighted,” Crypto Tony wrote in an accompanying comment.
Credit: Reclaiming the $19,000 Zone and Changing Trends
For fellow trader Credo, it’s also all scope when it comes to how Bitcoin behaves in the future.
and video update On December 29th, Cred confirmed $14,000 for monthly support and $12,000 for weekly support.
“Having said that, what can we look for if we’re not up to these levels? Always show a failing breakdown from support as a bullish argument if you don’t want to go to support.” I can,” he said.
The area around $18-19,000 that was breached thanks to FTX in November is still subject to recovery, leaving the subsequent weeks of action as a ‘failed failure’.
However, on the weekly timeframe, Kled added that BTC/USD is currently trading in a “nowhere” unimportant zone.
Kaleo: Strong attraction to $22,000 in Q1
More optimistic about what will happen in Q1 as a whole is popular Twitter account Kaleo.
Related: Bitcoin Price Exceeds $600,000 If ‘Hardest Asset’ Matches Gold
and predict Released on December 30, Kaleo showed a bottoming sequence underway in BTC/USD, with a clear upward price target for the next quarter.
He suggested that the area around $22,000 acted like a price magnet based on the high swings on the 8-hour chart over several months.
In contrast, the outlook never fell below its lows.
“This is what we should expect in early 2023,” commented Kaleo.
The views, thoughts and opinions expressed herein are those of the authors only and do not necessarily reflect or represent the views or opinions of Cointelegraph.
