Bearish BTC season 2022-2023
Bitcoin / U.S. dollar BITSTAMP:BTCUSD
BINANCE:BTCUSDT COINBASE:BTCUSD BINANCE:BTCUSDTPERP BYBIT:BTCUSDT BINANCE:ETHUSDT COINBASE:ETHUSD BINANCE:ETHUSDT COINBASE:ETHUSD
The chart above illustrates a ratio analysis study of the major corrections from the 2013 and 2017 Bitcoin highs.
By extending the ratio’s of the former corrections we are able to generate two major support zones.
Panic Zone 1: 20k-23k
Panic Zone 2: 9.5k-12.5k
While target zone 2 seems quite deep at the moment, target zone 1 is also supported by my 2019 channel analysis here:
