Is a Bull Market on the Horizon?🚀 📊

Daily BTC short term analysis and Logarithmic Regression Weekly

Why Investing in Bitcoin is the Worst Decision You'll Ever Make (But You Should Definitely Do It Anyway)"

Now, in my blog a week ago I mentioned that (I expect a BTC Christmas rally in December before going down again in 2023 as we're still in a macro downtrend), we can see here that the BTC price is going up, which suggests that the market makers are present right now, but the real question is until when will the market is going to hold, is it short term or has the bear market just ended?

The first sign is that we need to see if the key levels are broken or if the price rises above this area, for example, the $18,600 area could be the first resistance to be broken, and the $19,200 area being broken could be an indication that the market sentiment is finally turning into a bullish momentum, if this candle closes above or higher than the last day's candle, we can assume that it'll generate a higher price point.

If we look at the logarithmic regression Weekly, we see that the BTC price is still on track, forming a series of Lower highs and Lower lows. If the bear market is finally over, we can say that the bottom is in the $15,500 range, and if not, according to the logarithmic regression Weekly, we can still fall to $11,200.

Indeed, Bitcoin rallied after the latest Consumer Price Index (CPI) indicated that the Federal Reserve was making significant steps in winning the war to bring down inflation. The latest data showed that November inflation came in at 7.1% on a year-on-year basis compared to the 7.3% forecast, while monthly CPI was 0.1% less versus the 0.3% expected.

In this line, the crypto market has been monitoring the inflation data since it will determine the Fed’s next policy on interest rates. Overall, Bitcoin has been weighed by the high inflation with the tighter monetary policy putting pressure on risky assets.

"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