BTC - 2023 under the 200 WMA

5 Mar 2023

2022 /2023 has seen Bitcoin find its floor (previous ATH) and is approaching the top of the descending channel.

- Near-Term: A temporary break of the 200 WMA (Bull trap). BTC might stop short of 30k now, with a target of $26,500 late March -
- Long-Term: Scenario expects price to trend sideways around the 23K range for the rest of 2023 under the 200 WMA. Break of descending channel mid-summer. Move up to the 40ks late 2023/early 2024 in-line - with Halving. Good trading potential if this is the case but not great fun for HODLers and folk sitting on leveraged longs.
- Counter-Trend: Macro forces could course correct, high likelihood to the downside.

Scenario Recommendation - Plan to only trade the 20k to 26k range in 2023. No moon shot for BTC

Best, Hard Forky

Break into Channel

Mid-Channel

5 Mar 2023

Not

---------------------------------------

5 Mar 2023

Not

btc about to break up to 23K

8 Mar 2023

Not

invalidated after failing to hold the break of resistance. If it slips target bounce would be 20k

8 Mar 2023

Not

I would like to see a decent dip here - target woul be 19k