We are very close to escaping the darkest depths of the bear market.
JUN-22 hammered crypto. Bitcoin lost critical support at $30k and dropped 45%; Ethereum fell under $1k.
Fast forward to Q1 to Q2 2023, Bitcoin is flirting with $30k; Ethereum is at nearly $1900.
If bulls recover $30k it gets spicy.. that leads to the next value range towards $40k. Not to say we will escape $40k, I think we'll see major resistance to any large upside moves (outside of unusual economic events like USD hyperinflation or mass adoption).
JUN-22 hammered crypto. Bitcoin lost critical support at $30k and dropped 45%; Ethereum fell under $1k.
Fast forward to Q1 to Q2 2023, Bitcoin is flirting with $30k; Ethereum is at nearly $1900.
If bulls recover $30k it gets spicy.. that leads to the next value range towards $40k. Not to say we will escape $40k, I think we'll see major resistance to any large upside moves (outside of unusual economic events like USD hyperinflation or mass adoption).
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.