₿ Bitcoin As I Said. Correction Before Increases ₿

Jan 19, 2023

₿ Bitcoin As I Said. Correction Before Increases

₿ Nearest strong support zone: around the 0.382 fibo level of the upward wave.

₿ Nearest strong resistance zone: around recent highs.

₿ Technical environment:

- Moving averages: Uptrend

- MACD: Uptrend

- RSI: Uptrend

₿ Price action: Bitcoin made a downward correction exactly as I wrote in my last post:

It looks like the declines may even take us back to the area of $19300 What is due to the return of capital to the US dollar over the last few days. After making the appropriate correction, a continuation of the increases seems very likely, having in the back of our minds how Bitcoin is undervalued looking at the cost of mining and the upcoming halving.

₿ The scenario I am playing out is the execution of a downward correction to the vicinity of the first support zone followed by a continuation of the increases. I don't exclude the possibility of changing the scenario if the market situation changes abruptly. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.

₿ Please do not suggest the path I have outlined with lines it is only a hypothetical scenario.

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