Dear readers, this will be our last analysis article of 2023! Next year, of course, we will cheerfully continue! 2023 was an eventful year, a year with ups and downs, but above all a year of recovery. Particularly in the second half of this year, we saw a lot of green and price jump in the crypto market, and altcoins also bounced back and showed strength, where the first part of 2023 was mainly Bitcoin's star performer.
All in all, 2023 was a very successful year. With the Education Group, we made some wonderful hits. A 54x with Rollbit (RLB), many 5 to 10xes and quite recently a very quick 15x on MUBI, which price jump went through the roof in a matter of a few weeks.
Now that we have launched the CCT investment portfolio in the Education Group, as an Education Group member you can see at a glance what we have invested in, why we have invested, where we have entered, where we are going to cash in profits and through live data you can also follow the current profit/loss per position and of the entire portfolio together. To my knowledge, we are the only Dutch party that has built such a unique dashboard and we are proud of it!
If you would like to secure a cheap Education Group subscription with a 25% discount, I definitely recommend you to go to www.cryptocointalk.nl. If you enter the code CCTKERST25 in the payment process after choosing a product, you will get the 25% discount. So who knows, see you soon in the Education Group! Young, old, experienced or absolute beginner, everyone is welcome! Anyway, the Bitcoin price analysis. Let's dive in quickly!
PLEASE NOTE: this is not financial advice!
On the weekly chart, there is little special to report. The Bitcoin price is performing excellently and last week deposited its first red candle since early October. Totally fine, as nothing goes up in one straight line. Currently, I think continuation up is close and that means we could move on to $48,195. If things go along a bit and the price shoots up some more, we may be able to tap $50,000 this year. It would not surprise me, but it depends on whether we break out of that consolidation in time. On the downside, the closest point of support is the level at $37,977 and below that $32,406. With really bearish expectations, we need not be concerned for now. I see no reason why we should move to new lows. The trend is up until proven otherwise!
On the daily chart, things also look fine. We do run key resistance, in the daily supply at $44,058-$43,560. A daily candle close above that will open the way towards $48,195 and higher. We also see a daily RSI reset, so that could mean we are already in the process of continuation up here! On serious weakness below the local high of $43,486, we would risk a pullback towards $40,222. So that would leave us stuck in this consolidation for a bit longer. So even then, there is nothing to worry about.
On the 4-hour chart, we see that the Bitcoin price has also shown a 4-hour reset, adding to the breakout up scenario. Should we get another pullback below the low of $43,233 and then show strength, that is an opportunity to look for an entry pre-breakout. After that, target new highs.
In short, the Bitcoin price looks fantastic! I think we are close to a major price jump price breakout upwards. This therefore means that $50,000 could still be achievable. Should we do start to see weakness, it means we will stay down longer and reaching $50,000 in 2023 will be a tough story. All in all, it is just delaying a bullish outcome. Because sooner or later it will come! It looks fantastic. Happy holidays in advance!