Bitcoin (BTC) is currently still hovering around $27,000. How do predictions and expectations differ from influential investors in the community?
PlanB – Waiting for the appearance of green dots
By using 3 indicators at the same time: Realized price, 200-week moving average (WMA200) and RSI (shown in colors). PlanB believes that:
- The positive signal is that the price is moving above the actual price and the WMA200 after almost a year fell below these two averages. Thus, buying power XEM to have returned.
- In addition, the relative strength index RSI is leaning towards light blue. And expect that the coming months will be green with the uptrend again.
In this view of PlanB, it XEM like the downtrend is almost over and Bitcoin is starting an uptrend right in 2023.
TechDev – the market is like October 2015
This KOL with nearly half a million followers uses a different but equally positive view in 2023.
- This analysis uses two weekly moving averages, EMA20 and EMA200. In which, the EMA20 signal crossing EMA200 is a signal confirming the uptrend. Along with that, when the price breaks out of the downtrend trendline (orange line) and re-tests it, the downtrend is XEM over. These two combined signals appeared in October 2015.
- In 2023, both such signals have just appeared and been confirmed. During this T5, the EMA20 crossed to the EMA200 and Bitcoin price broke out of the downtrend trendline from the past T3.
As such, @TechDev_52 thinks that Bitcoin is on a continuing upward trend in 2023. The current price around $27,000 is the support of both the EMA20 and the weekly EMA200.
Mags – Price will correct to $24,000 before rising again
Mags (@thescalpingpro) analysis is more short-term and conservative.
- This analysis is based on the trendline of the daily RSI. It is likely that the RSI will decrease to the trendline pulling from the end of 2022 until now and turn up. Along with that, BTC price will continue to correct in May and recover in the following months.
- The second factor in the above analysis is the trendline of the BTC price line from the beginning of 2023 to the present. BTC correction in May will stop at this trendline before recovering.
The expected adjustment price may be in the area of 24,000 USD.
What do you think about the Bitcoin price scenarios from the above KOLs?