The report explores various analytical approaches to Bitcoin across different time frames, including monthly, weekly, and intra-day. We will discuss key data and examine the future potential of Bitcoin.
Monthly Analysis
Analyzing the monthly Bitcoin chart, the price is positioned under the resistance level at $93,350 and support at $71,300. The price continues navigating through the monthly fair value gap, potentially serving as a pivot point for future movements.
Weekly Analysis
The weekly chart is consistent with the monthly, having key levels aligned. Recently, price corrections have been evident at fair value levels that were set after the breakout in November. The forecast suggests a Bitcoin bottom between current prices and $71,300.
Intra-Day Analysis
Utilizing higher-time frame levels, it is clear that the daily chart structure indicates ongoing decline. However, if the price can surpass $84,000, this could lead to a return to the $90,000 region.
The analysis of the Bitcoin market shows a continuing potential for growth in 2023. Key support and resistance levels will determine the path of future movements.
