#Bitcoin is on a roll in 2023 and many believe it could be preparing for a potential bull run!
Here’s why February could be Bitcoin’s most important month in 2023 ( A thread 🧵)
Here’s why February could be Bitcoin’s most important month in 2023 ( A thread 🧵)
1. Bitcoin has already confirmed a move above the 10-day moving average, which has historically marked the start of a new rally in 2015 and 2019
2. Bitcoin is also showing signs of undergoing a price breakout with the recent confirmation of the golden cross trading pattern.
3. Despite the recent 40% price increase, some skepticism remains among investors, but the overall market has added $300 billion in capitalization, reclaiming the $1 trillion valuation.
4. With macroeconomic factors slowing down, risk assets like Bitcoin are expected to benefit from a slowdown in inflation and possible cut in interest rate hikes.
5. However, uncertainty remains as Bitcoin struggles to hold above $23,000, a level that has emerged as significant resistance. Currently, trading at $22,670 Bitcoin is below key support levels and looks for a retest of the lower levels.
So, what's in store for Bitcoin this month of February?
Will we finally see a bull run in the horizon?
Keep an eye on the market and let's see what unfolds !
Will we finally see a bull run in the horizon?
Keep an eye on the market and let's see what unfolds !
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