The last pullback of Bitcoin price really has no reason but to explain with an overbought scenario due to cascading liquidations in just an hour. A sharp drop is a sign of a correction from the top of this rally now that Bitcoin price is fighting the support at $25k-$27k before we see some recovery then going up to $35k-$40k.
Technical analysis to an investor means nothing but it’s very valuable to traders on the other hand and there are plenty of opinions on which direction the market will go both Bullish or Bearish at the same time. In order to form your own we present the top views from $10k to $50k with short-term Bitcoin Analysis this year.
3 Bearish Bitcoin analysis
3 Bullish Bitcoin analysis
Since #Bitcoin has made the bullish cross over the median on the Monthly time frame, it is now calling for a return to the upper parameter of the channel— CryptoCon (@CryptoCon_) April 18, 2023
The price… $42,000
This upper parameter has marked the mid-top for each cycle, where Bitcoin takes its first true pause pic.twitter.com/t0j93VlGNW
Technical analysis after the fact is extremely easy but predicting the next move is very hard, for long term we know it will get there while with short-term it is a game of traders but not for investors. Whether the price of Bitcoin will hit $10k or $10M no one knows for sure, only time will tell. And here is our best analysis: