bitcoin for 2023 1-2Q
*Technichal Analysis*
I expect the movement of March 6-10, 2023 as an important period for Bitcoin to determine the months of April, May, June and July of this year.
I anticipate two scenarios this year.
scenario 1
If Bitcoin's key point support line 21300usd is broken
Expecting an extension of the downtrend, it looks good to buy at the first support line of 16500usd and the second support line of 9300usd.
Scenario 2
If Bitcoin's key point support line of 21300usd is maintained, it is expected to finish with correction and rebound to the first red line resistance in April, May, June, and July.
If the rebound trend continues up to the first resistance line, the second resistance line is judged to be an overshooting area.
Excluding long term positions in the first resistance zone , it seems good to cash out and take a step back from the market.
I expect the movement of March 6-10, 2023 as an important period for Bitcoin to determine the months of April, May, June and July of this year.
I anticipate two scenarios this year.
scenario 1
If Bitcoin's key point support line 21300usd is broken
Expecting an extension of the downtrend, it looks good to buy at the first support line of 16500usd and the second support line of 9300usd.
Scenario 2
If Bitcoin's key point support line of 21300usd is maintained, it is expected to finish with correction and rebound to the first red line resistance in April, May, June, and July.
If the rebound trend continues up to the first resistance line, the second resistance line is judged to be an overshooting area.
Excluding long term positions in the first resistance zone , it seems good to cash out and take a step back from the market.
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