Bitcoin prices managed to increase by more than 30% since the beginning of the year 2023. This led to an increase in the overall crypto market. Today, it seems that this uptrend is stalling as Bitcoin faces strong resistance at a price of around $23,300. Does this signal an end to the Bitcoin uptrend? In this Bitcoin price prediction article, we analyze BTC from a technical view and see where might Bitcoin crash towards.
Bitcoin UP in 2023: For how long?
The year 2023 started on a positive note as the entire crypto market followed. Bitcoin prices rise from the low of $16,900 and reached the current price of around $23,000. This +30% increase helped in pushing most crypto prices in the market.
Will Bitcoin Price Crash?
It is no secret that nothing goes up eternally. After extended price hikes comes a price adjustment phase. The very first stage would be a resistance area for prices. For Bitcoin, we can clearly see the resistance price of $23,350 forming, pushing prices lower.
Bitcoin Prediction for February 2023: Will Bitcoin Crash?
If we plot the Fibonacci retracement, we can expect Bitcoin prices to drop towards the following prices (shown in figure 3 below):
- Normal case: $22,222
- Worst case: $21,196
- Extreme case: 20,371
Every Wednesday, you can tune in to the Podcast on Spotify , Apple and YouTube. The episodes are perfectly tailored for a duration of 20-30 minutes to quickly and effectively familiarize you with new topics in a fun setting on the go.
Subscribe & never miss an Episode
Spotify– Amazon – Apple – YouTube
- Conservative Prediction: Can XRP reach $5 in 2023?
- Big News: Ripple Price is about to TRIPLE? This News Confirms…
- Can Shiba Inu Price Reach 10 Cents?
- Bitcoin Price Prediction: 25K reached, what’s next? BTC at 30K?
- THIS Trader believes Bitcoin will CRASH to $10,000…is this Possible?
- SPOT ON Bitcoin Price Prediction: THIS Price is coming NEXT!
- Top 3 Altcoins to BUY in February 2023 – Best Crypto Investment!
- Crypto Millionaire: Buy THESE Cryptos before they BOOM in 2023?
- Cryptos are Consolidating! Here are 3 Cryptos to Buy in March 2023
- Cardano Price Crash BUT Prices should retrace higher?
- Ethereum Price Prediction for March 1, 2023 – ETH Reaching HERE?
- Shiba Inu Price Prediction: How High can SHIB Price reach by 2030?
- Bitcoin Price Prediction: Lower Targets CONFIRMED! BTC Crash to 20K?
- XRP Price Crash: DON’T Buy XRP Coin yet, wait for this Price…
- The Big Ripple Price Prediction for 2023 – How high can the XRP price go in 2023?
- Crypto REVIEW for January 2023 – will February continue to be GREEN?
- Cardano Price might drop below $0,30 if THIS Happens! Sell ADA?
- Ethereum Prediction for February 2023: This Chart confirms $2,000?
- Ripple Price Prediction – How High will XRP reach in 2050?
- MATIC Price Flying HIGH! Can MATIC reach $2 now?
- Cardano up 10% as the crypto market retraces: Potential to Buy ADA?
You might also like
More from Bitcoin
Top Hardware Wallets for 2023: Securely Protect Your Crypto Investments
Securing your cryptocurrency investments is crucial, and choosing the right hardware wallet is a critical step in the process. With …
Can Bitcoin reach $1,000,000 EVER?
Some investors predict BTC to reach 1 million USD. In which scenario could this Bitcoin price be possible? Can Bitcoin …
Bitcoin Price Prediction: 25K reached, what’s next? BTC at 30K?
What's next for Bitcoin? Will Bitcoin reach $30,000 next? Let's analyze in this Bitcoin price prediction article.