Date: 2023-02-23T15:26:00Z Creator: Bitfolio Academy
On this Thursday, February 23th, Bitcoin is showing continued strength. On the 4-hour chart, Bitcoin broke down from its bullish pendant, but the flag pattern is not yet invalidated. If BTC can manage to break above $25k, then the bullish pendant is showing a target price of $29k for Bitcoin.
The daily chart is still showing strong upward price momentum for BTC. At the beginning of January, BTC started pumping, and it has not stopped. In the long-term trend, price momentum is still going up. Long-term buyers are using short-term dips as buying opportunities.
We’re still 409 days away from the next Bitcoin halving event, and sentiment seems to be low. So I still recommend caution. My Bitfolio Macro Indicator is below 50 at 45.
Let me know in the comments. 🤔
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I help people invest in digital assets without undue risks or long-term time horizons, but I am not a registered investment advisor, nor a financial advisor. All of my videos are strictly my personal opinion and are not financial advice. Do your own research.
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