A sharp bullish wave is very potential
After several weeks of indecision in the crypto market, the king of crypto is now on a very important spot, showing absolute potential for a bullish wave to occur shortly. Several indicators are confirming the ascending potential and it will be the bulls who decide how long BTC will jump.
Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
The yellow zones below and above the price line reflect a static demand and supply zone, between which the price line had been stocked. Several reactions were made to these areas, making the price line bouncing and forming a side way range. The price line could finally break above the supply zone at 17000, on January 8th, 2023. An ascending channel could be considered for the price line on BTCUSD, which I about to get bullishly broken by the price line. Ichimoku cloud is flattened above the price line at almost 17500, where would be the final resistance which bulls should overcome to form a significant bullish wave; then they can drive the price to the resistances at 19000 and 22000.
• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore Ltd”. This post has been published only for educational purposes.