Bitcoin: Significant Recovery Expected (Technical Analysis)

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Glowing dark background with bitcoin symbol.

peshkov

After a brutal 14-months bear market, Bitcoin (BTC-USD) prices reached an important low at 15,479 USD on November 21st, 2022. On that same day, the Grayscale Bitcoin Trust (OTC:GBTC) bottomed out at 7.46 USD. Since then, prices

Bitcoin in 2019 in USD, weekly chart as of January 17th, 2023.

Bitcoin in 2019 in USD, weekly chart as of January 17th, 2023. (TradingView)

Bitcoin in USD, weekly chart as of January 17th, 2023.

Bitcoin in USD, weekly chart as of January 17th, 2023. (TradingView)

Bitcoin in USD, daily chart as of January 17th, 2023.

Bitcoin in USD, daily chart as of January 17th, 2023. (TradingView)

Crypto Fear & Greed Index, as of January 15th, 2023. Source: Lookintobitcoin. January 18th, 2022, Bitcoin – Significant recovery expected.

Crypto Fear & Greed Index, as of January 15th, 2023. (Lookintobitcoin)

Crypto Fear & Greed Index long term, as of January 15th, 2023. Source: Lookintobitcoin. January 18th, 2022, Bitcoin – Significant recovery expected.

Crypto Fear & Greed Index long term, as of January 15th, 2023. (Lookintobitcoin)

Seasonality for bitcoin, as of January 15th, 2023. Source: SeasonaxCrypto Fear & Greed Index, as of January 15th, 2023. Source: Lookintobitcoin

Seasonality for bitcoin, as of January 15th, 2023. (Seasonax)

Bitcoin/Gold-Ratio, weekly chart as of January 17th, 2023.

Bitcoin/Gold-Ratio, weekly chart as of January 17th, 2023. (TradingView)

PwC's 26th annual Global Survey, January 16th, 2023. Source: Holger Zschaepitz

PwC’s 26th annual Global Survey, January 16th, 2023. (PwC)

Gross domestic product in China as of January 17th, 2023. Source: Holger ZschaepitzCrypto Fear & Greed Index, as of January 15th, 2023. Source: Lookintobitcoin

Gross domestic product in China as of January 17th, 2023. (Holger Zschaepitz)