[ad_1] <br><div><a target="_blank" class="article__lead-img--wrapper" href="https://news.google.com/yuri-molchan" rel="noopener"> <img width="224" height="140" alt="article image" src="https://u.today/sites/default/files/2019-11/yuri-ava.jpg" class="author__item-user-avata"/> </a> <div class="article__lead-info"><a target="_blank" class="article__lead-name" href="https://news.google.com/yuri-molchan" rel="noopener">Yuri Molchan</a> <p>This market analyst and strategist believes that Bitcoin is being pushed down in direction of $13,900 steadily</p> </div> </div><div> <div class="article__contents"> <p>Contents</p> <ul class="article__contents-list"><li class="article__contents-item"><a target="_blank" class="article__contents-link link-pseudo" href="#h20" rel="noopener">“A target of $11.4k to $13.9k” for Bitcoin</a></li><li class="article__contents-item"><a target="_blank" class="article__contents-link link-pseudo" href="#h31" rel="noopener">Bitcoin still under selling pressure</a></li></ul></div><p>Caleb Franzen, senior market analyst and strategist at Cubic Analytics has taken to Twitter to share his tackle the course the place <a target="_blank" href="https://u.today/bitcoin-expected-to-surge-vs-tesla-heres-why-bloombergs-mike-mcglone" rel="noopener">Bitcoin</a> could also be transferring. He believes that the worth of the flagship cryptocurrency is heading down within the course of the $14,000 and would possibly drop even decrease.</p> <h2 id="h20">“A goal of $11.4k to $13.9k” for Bitcoin</h2> <p>Franzen, who used to work as an analyst within the banking sphere after which switched into crypto evaluation, shared a Bitcoin chart, the place he highlighted an space based mostly on the earlier BTC lows, the place he reckons Bitcoin is presently heading.</p> <p>It serves as “a magnet for Bitcoin”, he tweeted, including that this means a goal of $11.400 to $13.900 for the main digital foreign money.</p> <blockquote class="twitter-tweet"> <p dir="ltr" lang="en">I nonetheless suppose that the teal field is a magnet for <a target="_blank" rel="nofollow noopener" href="https://twitter.com/hashtag/Bitcoin?src=hash&ref_src=twsrc%5Etfw">#Bitcoin</a>, implying a goal of $11.4k to $13.9k. <a target="_blank" rel="nofollow noopener" href="https://t.co/5V8wFgX759">pic.twitter.com/5V8wFgX759</a></p> — Caleb Franzen (@CalebFranzen) <a target="_blank" rel="nofollow noopener" href="https://twitter.com/CalebFranzen/status/1606324255720935427?ref_src=twsrc%5Etfw">December 23, 2022</a></blockquote> <p>He defined that this goal was the extent the place Bitcoin worth closed in December 2017, which was the height of that cycle. In addition to, the identical stage acted as resistance in 2019, precisely on the $13,900 stage. This makes him assured that BTC is prone to attain that focus on. Nonetheless, it admits that it simply may occur and isn't a particular forecast.</p> <blockquote class="twitter-tweet"> <p dir="ltr" lang="en">I get reassurance about this goal as a result of it was the month-to-month shut from December 2017, the height of the previous cycle.</p><p>This stage additionally acted as resistance in 2019, completely at $13.9k.</p><p>Will it completely fall to this stage? No.<br/>May it. Sure.</p><p>Similar goal I've shared since June <a target="_blank" rel="nofollow noopener" href="https://t.co/ymLssZzAqY">pic.twitter.com/ymLssZzAqY</a></p> — Caleb Franzen (@CalebFranzen) <a target="_blank" rel="nofollow noopener" href="https://twitter.com/CalebFranzen/status/1606327507887726594?ref_src=twsrc%5Etfw">December 23, 2022</a></blockquote>
<h2 id="h31">Bitcoin nonetheless underneath promoting stress</h2> <p>The flagship cryptocurrency has been buying and selling within the vary of $16,800 since December 14. On that day, the US Fed Reserve introduced one other charge hike, this time by <a target="_blank" href="https://u.today/bitcoin-pares-gains-as-fed-announces-another-big-rate-hike" rel="noopener">50 basis points</a>, which matched the expectations of analysts.</p> <p>The Fed additionally introduced that it's decided to proceed taking charges excessive subsequent yr, which might preserve pushing shares and cryptocurrency down. Bitcoin fell from the $18,244 excessive on that day and is now buying and selling at $16,848, in response to information shared by CoinMarketCap.</p> <p>Chief commodity strategist of Bloomberg Intelligence Mike McGlone believes that Bitcoin is able to “resume outperforming” different belongings, as soon as the Fed reverses to financial easing and stops charge hikes, as <a target="_blank" href="https://u.today/bitcoin-likely-to-resume-outperforming-once-this-happens-bloombergs-chief-strategist" rel="noopener">reported by U.Today</a> earlier.</p> </div><script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script> <br>[ad_2] <br><a href="https://news.google.com/__i/rss/rd/articles/CBMiU2h0dHBzOi8vdS50b2RheS9iaXRjb2luLWxpa2VseS10YXJnZXRpbmctMTM5MDAtMTE0MDAtc2VuaW9yLW1hcmtldC1hbmFseXN0LWJlbGlldmVz0gFXaHR0cHM6Ly91LnRvZGF5L2JpdGNvaW4tbGlrZWx5LXRhcmdldGluZy0xMzkwMC0xMTQwMC1zZW5pb3ItbWFya2V0LWFuYWx5c3QtYmVsaWV2ZXM_YW1w?oc=5">Source link </a>