Bitcoin ATH – History in the Making!

December 18, 2022

Bitcoin $25,000 is Right Around The Quoin

Away Bog& Giulvezan

We have a new All Time Gamey! Bitcoin is looking corresponding a rocket once again, fast through $20,000 and trading at $23,100 at the time of committal to writing. Just to put things in perspective, this March information technology was trading around $3,000, and umpteen were calling information technology dead! But if history taught us something is that Bitcoin can "die" many multiplication, only to come back stronger.

Fun fact: the end All Time High was reached happening December 17, 2022, and the new ATH was reached happening December 17, 2022, exactly three years later. Well, Dec 18^th is not over yet, thus Bitcoin still has time for a new ATH. Regardless if that happens Oregon not, the Crypto Winter is over and the "To The Moon!" party is in booming swing. But – yes, the ever-inst "merely" – remember history: throughout the big 2022 climb, people were mortgaging their houses to buy Bitcoin. That didn't work up then well! Never block that what goes functioning must fall. At this point, we have two scenarios that may play exterior:

The first scenario is bullish and is triggered by FOMO (Fear Of Missing Out). In this scenario, seeing the recent BTC explosion, Sir Thomas More investors and retail clients will start (or continue) to buy Bitcoin because they don't want to see the rocket whirl higher without them being alongside. The much people buy out BTC, the higher IT goes.

The second scenario is bearish and is the result of a cautious draw close. The people who bought near the 2022 peak have probably learned their moral and could peradventure sell nowadays, while prices are high. This also applies to people World Health Organization bought during the 2022 climb – they consider they've made enough net and resolve to cash out and get something nice for Christmas. If this happens, Bitcoin's price will likely go down temporarily.

Chart Analysis – BTC/USD

After breaking the resistance zone between $19,500 and $20,000, Bitcoin literally took remove and sick straight raised, currently trading to a higher place $23,000, later on reaching an all-clock high at $23,539 according to data from CoinMarketCap.

The MACD is moving ahead, with lines spread apart, which indicates very strong optimistic momentum and suggests that BTC may persist in to treasure. The RSI is also moving upfield, but it has entered overbought district (above 70), which is an early warning sign of the zodiac that a pullback may soon follow. However, prevent in mind that last metre when the RSI was overbought, price still climbed for ended a calendar month, thus we cannot simply assume that cost will come down immediately, just because RSI is overbought.

The Daily candles look very bullish and sustenanc the idea of a continuing climb, but formerly we outset seeing long wicks, combined with past signals (indicators, news, rumors, etc.), we should know that a retracement is approaching. For in real time, the levels to watch are $20,000 as major endorse, $25,000 as major resistance, and all big one shot numbers in-between as potential S/R.