Cryptocurrency

Bitcoin

Dogecoin

TRON

Chainlink

<p>Bitcoin saw a surge today, trading as high as $44,250 before pulling back to $43,600. This brings it close to its 2023 high near $44.5k reached on December 8th. However, crypto analysts are warning that history may repeat itself with a retracement.</p> 
<p>Popular crypto analyst CryptoCon, with over 70k Twitter followers, <a href="https://x.com/CryptoCon_/status/1737488770948071775?s=20" target="_blank" rel="nofollow">commented</a> on the recent price action: <em>“Is Bitcoin price more optimistic than I thought? It makes sense that as some data fired, others would be thinking ahead and the 48k target that seems to be unanimously agreed upon would not be reached.”</em></p> 
<p>What CryptoCon means is that many analysts have been expecting Bitcoin to top out around $48k based on various indicators. However, if those indicators did not align perfectly, it leaves room for Bitcoin to potentially break out above $48k if new highs are achieved. CryptoCon explains <em>“If the cycle mid-top is not in and Bitcoin breaks into new highs, then MVRV-Z aligning in its red zone makes sense, along with a few other indicators that have missed their mark. Then we head to the famed 47-49k mark.”</em></p> 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="540" src="https://captainaltcoin.com/wp-content/uploads/2023/12/image-589-1024x540.png" alt="" class="wp-image-404117" srcset="https://captainaltcoin.com/wp-content/uploads/2023/12/image-589-1024x540.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-589-300x158.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-589-768x405.png 768w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-589-1536x810.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-589-2048x1081.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-589-284x150.png 284w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-589-100x53.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-589-663x350.png 663w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-589-788x415.png 788w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure> 
<p>Another top analyst, Ali, with over 30k Twitter followers, also <a href="https://x.com/ali_charts/status/1737759421411827856?s=20" target="_blank" rel="nofollow">urged</a> caution in the current market: <em>“From capitulation to belief, the mood in the #Bitcoin market has seen a full spectrum of changes. However, it’s worth noting that historically, every time sentiment has shifted from capitulation to belief, $BTC has experienced a retracement. Could history repeat itself?”</em></p> 
<p>What Ali is getting at is that market sentiment has moved from extreme fear during the summer capitulation event back to optimism and “belief” in Bitcoin. If history rhymes, sudden sentiment shifts like this have preceded retracements. So despite Bitcoin’s surge, a pullback may still occur.</p> 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="584" src="https://captainaltcoin.com/wp-content/uploads/2023/12/image-590-1024x584.png" alt="" class="wp-image-404125" srcset="https://captainaltcoin.com/wp-content/uploads/2023/12/image-590-1024x584.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-590-300x171.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-590-768x438.png 768w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-590-1536x876.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-590-2048x1168.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-590-263x150.png 263w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-590-100x57.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-590-614x350.png 614w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-590-788x449.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-590.png 1180w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure> 
<p>On the technical side, Bitcoin’s daily relative strength index (RSI) now reads 63. An RSI above 70 is considered overbought territory, while a reading below 30 is oversold. So at 63, Bitcoin is getting closer to overbought conditions but still has some room left before hitting historically overextended levels.</p> 
<p>Finally, there is hype building around a potential Bitcoin exchange-traded fund (ETF) approval by January 2024. The crypto community widely expects such an event, which could drive Bitcoin back toward the $50k threshold. With the deadline impending, the next few weeks will be an interesting period for Bitcoin price action.</p> 
<p>You may also be interested in:</p> 
<ul> 
 <li><a href="https://captainaltcoin.com/whales-are-accumulating-chainlink-link-and-this-major-altcoin-report/" target="_blank" rel="noreferrer noopener">Whales Are Accumulating Chainlink (LINK) and This Major Altcoin: Report</a></li> 
 <li><a href="https://captainaltcoin.com/ethereum-set-to-reach-10000-soon-expert-explains-why-eth-is-programmed-to-hit-that-price/" target="_blank" rel="noreferrer noopener">Ethereum Set to Reach $10,000 Soon, Expert Explains Why ETH Is Programmed To Hit That Price</a></li> 
 <li><a href="https://captainaltcoin.com/the-investment-turnaround-why-tron-and-dogecoin-investors-are-flocking-to-this-new-cryptocurrency-with-150-roi/" target="_blank" rel="noreferrer noopener">The Investment Turnaround: Why TRON and Dogecoin Investors Are Flocking to This New Cryptocurrency with 150% ROI?</a></li> 
</ul> 
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style=""> 
 <div class="col_wrap_two mb0"> 
  <div class="offerbox_big_wrap flowhidden"> 
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"> <a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="nofollow sponsored"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/etoro-ca-1-oyc386si1bdrmhrff7xex5ngu4zikfy3ei6bk0rbb6.png" width="500" alt="We recommend eToro" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a> 
   </div> 
   <div class="product-summary col_item mobileblockdisplay"> 
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-etoro-target-_blank-rel-nofollow-sponsored-span-we-recommend-etoro-span-a"> <a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="nofollow sponsored"> <span>We recommend eToro</span> </a> </h3> 
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20">
     <strong>74% of retail CFD accounts lose money.</strong>
    </div> 
    <div class="buttons_col mb25 rh_big_btn_inline"> 
     <div class="priced_block clearfix"> 
      <div> <a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="nofollow sponsored"> Visit eToro Now </a> 
      </div> 
     </div> 
    </div> 
    <div class="bigofferdesc">
     <i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Active user community and social features like news feeds, chats for specific coins available for trading. 
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Copy trading: allows users to copy thetrades of leading traders, for free.
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc.
    </div> 
   </div> 
  </div> 
 </div> 
</div> 
<p>The post <a href="https://captainaltcoin.com/bitcoin-btc-reaches-2023-high-near-44-5k-but-heres-why-historical-data-suggests-a-pullback-is-due/">Bitcoin (BTC) Reaches 2023 High Near $44.5k, But Here’s Why Historical Data Suggests a Pullback is Due</a> appeared first on <a href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Bitcoin (BTC) Reaches 2023 High Near $44.5k, But Here’s Why Historical Data Suggests a Pullback is Due

목차

CaptainAltcoin

2023년 12월 21일에 게재된 다른 기사

$45K Remains Major Resistance for Bitcoin (BTC) Bulls

OVAL3 Rugby WEB3 Fantasy Game Launches Token (OVL3) On Bitget

Analyst Says Polygon (MATIC) On Brink Of Major Move, Here’s Why

From bad to worse? Assessing China-Philippines relations

4 altcoins under $10 to buy in January 2024

AI and the Entrepreneurial Mindset – Catalysts for Tomorrow’s Business Terrain

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!