Bitcoin stuck in crossroads.

[Jennyjack]

Since the start of the new year, the cryptocurrency market, led by Bitcoin, has primarily experienced positive sentiments, with its price increasing over 50% year-to-date and the total market capitalization exceeding $1 trillion. Despite these gains, most analysts agree that the crypto market still has uncertain times ahead.

According to the latest Bitcoin news on Coinpedia, the technical analysis of Bitcoin's price suggests that the market is currently in a neutral position between bullish and bearish sentiment. This neutrality may continue as short-term holders and long-term buyers come together in anticipation of next year's halving event.

 

[Suba]

Bitcoin has always been a hot discussion on various forum sites, as well as by expert analysts, but what is certain has been an increase in the price of Bitcoin since the beginning of 2023. On Jan 01, 2023 Bitcoin closed at $16,625 and currently is Feb 22, 2023 the price of Bitcoin was $24,200 up 46%. This increase is suspected of a change in the behavior of Short Term Holders (STH), not selling their Bitcoin which is estimated to reach 15 million Bitcoin. So Circulating Supply is only 4,298,687 BTC.

In the past one week Bitcoin Bitcoin price has increased 12%, to test the resistance of US $ 25 thousand.

 

[Noraccounts1]

Bitcoin has been stuck between $16k and $18.5k for 2 months now. Watch this range very very carefully

 

[ImamShaheb]

Bitcoin has been stuck between $16k and $18.5k for 2 months now. Watch this range very very carefully

We're back! Let's see how it goes this time!

 

[Bash4j]

We're back! Let's see how it goes this time! View attachment 59425

Thanks for the price chat. The exchange seamless navigation UI make my BTC trend analysis more easier. In my opinion, Bearish divergences have been formed on most timeframes. Ltf looks like a distribution pattern, but once again, we need confirmation. The first one would be a clean break below $33,500. That would take the price to 30k-31k at least. There we would have to see the price reaction to know if the entire move up from 30k to 35k is a deviation (fakeout) or a real breakout.