A New Beginning in Crypto: What to Expect in January

The crypto market has been volatile in recent years, but experts predict it will become more stable and mainstream in the coming months. January 2023 could be the perfect time for a fresh start in the crypto world. Expect increased regulation and mainstream adoption of cryptocurrency as payment, which could bring more clarity and security for investors, but also potential restrictions. Stay informed and up-to-date on the latest developments to make informed decisions about whether or not to get involved in the crypto space.

Today I'm just going to give a year-end update on BTC and some altcoins that I see potential for in the coming year 2023 - stay tuned.

Here we can see that the after breaking the Ascending Channel pattern to the downside it consolidates or move sideways for the past 9 days

meaning the breakdown doesn't support by Sell vollume, at the time of writing this Blog the price of BTC is sitting at $16,850 we cannot see any significant movement it feals like the market is on pause because of the holiday's or just the market participants is so busy this past few days.

If we look at the weekly time frame, BTC is still in a downtrend, even though the market has paused in the last few days, the market structure is still bearish to me. The BTC price movement is still heading towards the completion of the Butterfly Harmonic Pattern Leg D the price could be at around $12,000 - $8,000 area level

Chanlink or Linkusdtperpetual here we can see that Link's price has fluctuated between $5.6 and $9 since May 12, 2021, and is still at $5 at the time of writing this article.9 The reason I like this coin so much is that Link has really tried to break even higher in the last 229 days, in the $9 range. We have seen a clear rejection in this range, and we have seen several touches of this high. So I'm 99.9% sure that the next time Link price comes back to $9, it'll most likely break out even higher, perhaps in the second week of January or February.

Ren Coin is one of my most traded coins in recent months. I expect that the price could fall back to my entry level that I chose in the buy zone to qualify for the Cypher pattern, even though the market is still bearish, I expect some short-term upside.

CHZ CHZUSDTPERPETUAL this is another coin that I'm watching at the moment. The market structure of this coin is still bearish, although I see a buying opportunity at around $0.08292 - $0.07843. I've to be very careful when trading this type of coin. If you want to mimic this trade, you can see the SL in the picture. This is also a Cypher pattern that forms on a 1D time frame

"Cryptocurrency trading carries significant risk and may result in the complete loss of your investment. It is important to conduct thorough research and consult with a licensed financial advisor before making any investment decisions."

Reminder: the trend is your friend.

Don't have a good day have a great day.

Blog Author: John Daele Bandilla