According to the latest reports, it seems that there are new crypto targets revealed following the fall of Bitcoin below $23k. Check out the latest reports about this below.
New crypto outlook for the future
A crypto strategist who accurately predicted Bitcoin’s 2022 bottom back in November (BTC) is keeping a close eye on the king crypto as it trades below $23,000.
In a new edition of Weekly Open, pseudonymous trader DonAlt made sure to explain the fact that Bitcoin is now facing resistance on all time frames.
Bitcoin seems to respect resistance at around $23,000, the closely followed crypto trader still believes that BTC’s bullish market structure remains intact.
On the other hand, it’s also important to note the fact that he warns that the clock is ticking for BTC bulls.
“Now, one thing that we do still have is that we have so far not made a new low, and we’ve made a higher high…
But we still need to get back above $23,000. Otherwise, it just looks pretty bad to me.”
Bitcoin price explosion in 2023
Pseudonymous analyst Dave the Wave, who also predicted BTC recovering from the bear market near the $20,000 level, lists four reasons why a BTC rally up to its high at around $69,000 in 2023 is not an unreasonable expectation.
“A move to push previous BTC all-time highs this year is perfectly feasible:
– less steep rate of appreciation
– plenty of time, equal to the decline
– only midway on the logarithmic growth curve channel
– 25% of the way there already”
He noted the fact that it bodes well for Bitcoin that price has been ranging in his “buy zone” for over eight months now.
“Perhaps a positive to see BTC price in the LGC buy zone for a lengthy period…
The ‘easy’ money will be had by those who build a position [if not already long], rather than those who try to trade the short-term volatility.
Of course, this involves time… and of course involves the LGC model, which if held should always be hedged.”