Is Bitcoin Heading Back To $23,000?

[Edwardard]

It is now resting around $23K and for me it seems that it is slowly trying to climb higher.

It is sideways in a range. Neither trying to climb nor trying to crash yet. For me, a break above the most recent macro high 25.2k will push this quickly to 30k, while break below 22k will take us to 19.8k. We shall have the patience to wait for these levels to easily judge next 2-3k$ price movements (and earn some money from it as well 😁)

Some are saying that we are now on Bull Market, but is it going to stay or is it just another one of those price increase before a huge fall again?

Now this will depend on upcoming global economic conditions. I am assuming a correction then pump again, however I maybe completely wrong too.

[uneng]

Yes, we are back to the 23,000$'s. It's still hard to maintain the price above the 24,000$ line with stability, but I believe it's just a matter of time until it does. If bitcoin were going to have the currently positive trend reverted, I believe corrections would be dropping bitcoin to lower levels, rather what we see is bitcoin pretty strong above 23,000$ price range. I'm optimistic by the end of February bitcoin will be above 24,000$ once again, maybe at 25,000$, with the improvement of global economy and inflation under control in US and Europe.

[ivankoh]

Like the market's movements in January, a recovery of >35% is a very optimistic signal.  Most likely in February there will be more corrections lower and lower volatility to form a pinned 15k "bottom".  We're at 23k3 and that's a good thing.  From there, it's easy to see how faster bitcoin moves.  My expectation is bitcoin will break 25k this February.  In addition, the 18k price area will be strongly supported.

[ethereumhunter]

Like the market's movements in January, a recovery of >35% is a very optimistic signal.  Most likely in February there will be more corrections lower and lower volatility to form a pinned 15k "bottom".  We're at 23k3 and that's a good thing.  From there, it's easy to see how faster bitcoin moves.  My expectation is bitcoin will break 25k this February.  In addition, the 18k price area will be strongly supported.

But we must remain vigilant about the current situation because if you look at the movement, the bitcoin price has not experienced too deep a correction and tends to be in a sideways position. It could experience a fast dump that we don't even notice and could trigger the price to be lower than it is now. Let's hope next week will be better than now so that the bitcoin price can go higher than $24k. We are all hoping for the price to break through $25k or even higher, although we can't be sure that will happen this month.

[Lee Dynamo]

• The price of bitcoinBTC is slowly coming down.
  
• The price action is showing a higher-low formation from the $24,250 level.

• Elliott waves give a bearish signal towards $23000.
  

The buyers often failed to register another sustainable high above $24,200. Everyone is looking to celebrate Bitcoin's new 2023 high. There is unlikely to be a slight panic among speculators as the sentiment indicates a minor correction in the BTC price.

https://www.tradingview.com/x/aj4E64dX/

BitcoinBTC price action forms higher-low and lower-high patterns in the near term. This bearishness comes with Sellers most favorite strategy of Elliott Waves Theory. The hourly price action has registered the fourth level of waves at the fib retracement of the 0.5 level. If the next horizontal support breaks, the market is likely to witness further decline towards the $23000 mark from the current levels of $23,440.

$23,200 appears as an immediate support as the bulls draw an ascending trend line. This breakout could take bitcoin price towards $23,000 to complete the correction before any bullish recovery.

losing thoughts

BitcoinBTC price often retests the consolidation zone, which means bears are actively trying to maintain dominance at higher levels. For safe trading, speculators should wait for the confirmation of the directional trend.

Finally, as I mentioned earlier, the bitcoin price moved back towards the $23K level. In time, the bitcoin price completed the fifth wave and for now the market may cool off and bounce back. speculators must wait for the next confirmation to make another position.

https://www.tradingview.com/x/TUJNNS6j/

[DeathAngel]

Price currently $23150 & I fear that we could fall sharply & regest $20000. The pump from $16000 was impressive but it happened fast. We need to successfully bounce off $20000 or there will be fears that this is just a bear market rally, meaning the bottom is not in & lower lows are coming.

Weekly close tonight will be important. I’m looking for $22500 to hold otherwise we could be in for a world of pain. Avidly watching charts as the day closes out.

[Beparanf]

Price currently $23150 & I fear that we could fall sharply & regest $20000. The pump from $16000 was impressive but it happened fast. We need to successfully bounce off $20000 or there will be fears that this is just a bear market rally, meaning the bottom is not in & lower lows are coming.

Weekly close tonight will be important. I’m looking for $22500 to hold otherwise we could be in for a world of pain. Avidly watching charts as the day closes out.

Agree on this. Using a 4hr time frame on price chart clearly show how bearish it will be on the next few hours before the weekly candle print. This will be the first red weekly candle since this rally started if ever Bitcoin will close below 24K level since this the price that needs to break to continue this bull run.

You’re right that we might retest again the 20K level since that’s the price for psychological barrier in trading. I hope that Bitcoin will not close below 23K then start strong again for this upcoming candle.

[Lee Dynamo]

Finally, as I mentioned earlier, the bitcoin price moved back towards the $23K level. In time, the bitcoin price completed the fifth wave and for now the market may cool off and bounce back. speculators must wait for the next confirmation to make another position.

https://www.tradingview.com/x/TUJNNS6j/

[Emitdama]

I am waiting for the confirmation of the BTC direction trend for safe trading but it is not easy to make money even though BTC is in an uptrend. You make all kinds of moves to make the investor lose and if you put a stop, you stop with a single needle as soon as you take it from the spot you keep it at a loss by decreasing. Binance whales disrupt psychology by using the best artificial intelligence systems produced in this regard in particular.

If you sell btc as soon as you recover the loss, this time it will go up like crazy in a single candle regret it and make you unhappy again. It builds a nest somewhere at the top no longer descends from here the direction goes up in the same second as you take your lesson 1.5k dollars goes down in a 15-minute candle. Waiting there for a week depresses morale. The story returns to the beginning when i say i sold it again and got rid of it as soon as it went up.

There is no official confirmation in here but we should only act according to what we see. The trend is bullish. There are declines that is seen but that was only small and we are still around 23k USD and I think what have happened was only a correction because we did reach above $24k in this current bull run.

When the price is rising, it's actually easy to make money. All you gotta do is sell, as long as you already bought at the dip before. If you don't want to regret then sell only a few amounts so that you still have something to sell once the price rise again. As long as you sell at a profit, you should be happy and contented already. Being greedy is bad, remember that.

[nurilham]

Bitcoin price is already below $23k, it continues declining and now it is around $22,8k. But I think it is normal, we don't need to panic because we should have a drop in price after some pumps previously. I am very sure that this decline won't be below $20k, probably the drop continues until $20k-$21k. It is a very possible zone of Bitcoin price before it tries to target passing $25k in the next few weeks.

Anyway, if we are holding for the long term, we don't need to be so serious about the current drop. Only traders need to monitor the price, especially those who trade daily.

[Ojima-ojo]

Whenever there is a price surge in Bitcoin and suddenly there is a pullback, it show and build confidence such that, I become certain that the price surge was not due to a market pump but a natural market movement.

So this point to the fact that Bitcoin price must not continue in one direction and at regular interval,  the price can correct back to a low level before it pulls up again.

[KennyR]

It looks like bitcoin is making its position strong at $23k and it looks like we'll be sitting around the price range for some time period same as that we had $17k for longer time period. However Market is in good position without much of negative news circulating around. This can keep the market strong than dragging backwards.

[kamvreto]

It looks like bitcoin is making its position strong at $23k and it looks like we'll be sitting around the price range for some time period same as that we had $17k for longer time period. However Market is in good position without much of negative news circulating around. This can keep the market strong than dragging backwards.

hope that negative news does not appear which will certainly affect the current position of bitcoin. The price which is still holding in the $23k area (but now still slightly below it) is certainly a pretty strong price.
As long as bitcoin remains above the $20k price bitcoin still has a chance to go even higher. $25k is the next target, whether bitcoin is able to reach it or not. If you still can't then bitcoin will make some more corrections and of course we all have to be prepared for the next shock.

[Dr.Bitcoin_Strange]

If things do take a turn in the market, the next support level to watch is around $21,000, and if it breaks below that, Bitcoin could be headed towards the $20,000 mark.

It's not so difficult for Bitcoin to climb to $23,000, is it? I was even surprised when Bitcoin moved past $23,000. I never thought Bitcoin could even reach $24,000 by these early months of 2023 after seeing some speculation last year in December, where I watched a video on YouTube and the man talked about the new price to watch out for in January 2023. He said Bitcoin investors should expect to see the price fall below $13,000, and I felt somehow convinced that the price would plummet at the beginning of last month, but that was not the case. 

@OP: I am convinced that in the crypto space, price movement could go either way as fast as it can, so nothing is impossible.

[STT]

23k is arguably the resistance now.    We must be breaking the 2 day average and trade above that descending momentum and also imo regain the weekly average.    While that possible recovery is ongoing we are within a range, 23k top of that probably and 22.7k the low seen recently is the bottom of that range.
  When we break either side of this fenced in situation there is quite likely a strong indicator of the direction we will be taking further out then this business week start:

For the last few days the thin blue line above has been a rough limiter to aspirations upwards.

[AverageGlabella]

Maybe it will go down further but I do not think we will go down to $15000 and I do not think we should be worried about it correcting a little because we should know that a bull run atm is impossible there has been to much instability and people are gaining faith back slowly but they have not gained full confidence yet that a bull run would require.

[Rigon]

If things do take a turn in the market, the next support level to watch is around $21,000, and if it breaks below that, Bitcoin could be headed towards the $20,000 mark.

It's not so difficult for Bitcoin to climb to $23,000, is it? I was even surprised when Bitcoin moved past $23,000. I never thought Bitcoin could even reach $24,000 by these early months of 2023 after seeing some speculation last year in December, where I watched a video on YouTube and the man talked about the new price to watch out for in January 2023. He said Bitcoin investors should expect to see the price fall below $13,000, and I felt somehow convinced that the price would plummet at the beginning of last month, but that was not the case. 

@OP: I am convinced that in the crypto space, price movement could go either way as fast as it can, so nothing is impossible.

The Bitcoin market is now hovering between $23,000 and $22,000. Not only you, but all investors and traders here are surprised that the price of Bitcoin has improved at the beginning of the new year. After the bloody year of 2022, when people can see the improved condition of the market, the lamp of hope wakes up in everyone's mind. Many people speculated that the Bitcoin market would hover between $12,000 and $13,000. Remembering this many people were waiting to invest. But instead of that, the market moved to the top and stayed up to $24,000. Now the market is again at 23 thousand dollars. Let's see if the market can create a better position.

[_BlackStar]

It's always difficult to make accurate predictions in the short term, and it's likely that bitcoin will sideways for while between $20K and $25K.

The market has tested $25K several times since January, but has yet to touch it. I believe eventually it will kick in, but I don't know if it will be during February or March. The price has broken through $23K again now after dropping at $22.6K the previous day, but the potential for an rise is always there up to $25K during this month.

[Quidat]

It's always difficult to make accurate predictions in the short term, and it's likely that bitcoin will sideways for while between $20K and $25K.

The market has tested $25K several times since January, but has yet to touch it. I believe eventually it will kick in, but I don't know if it will be during February or March. The price has broken through $23K again now after dropping at $22.6K the previous day, but the potential for an rise is always there up to $25K during this month.

Yes, it is really just hovering within these levels and same words that we are saying when bitcoins its playing around 15-20k which it did really happen few months ago on where we dont even know on where it would be heading but it is really good to look at that we are really that seeing some progress or increase increments at least which we could tell that we might be able to see some recovery sooner or later.It is really just that people do really need to prepare for whatever things that they might be able to encounter ahead because we do know that there's no such thing about
assurance if we do speak on what it would be its price into a particular point, there's no way that we could exactly tell.

[Captain Corporate]

It is above that already, and thats a pretty good thing, I feel like its going to be quite an important task and quite important day. I am not saying that it will be pretty impossible to go back over 23k, it was already near but we have reached that above level already and that's a good thing. It shows that if we try to go any lower, it won't really go down any lower and whenever we tried, it just bounced back up. Thats a proof that this wasn't a dead cat bounce or something, it was a real life big increase and its here to stay without a doubt, I do not think that anything else could happen, we should be considering that as a way of bull run starting.