Cryptocurrency Investment

Bitcoin and Ethereum: The Beginning of new Bull Market?

Crypto Zen Monk
Crypto & Zen
5 min readJan 19, 2023

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In this article, we are going to dissect this question by putting all emotions aside, doing basic technical analysis, and reference some expert opinions.

Source: https://www.fool.com/investing/2021/12/09/bitcoin-bull-vs-bear/

Key Questions

Over the last 10 days or so, Bitcoin surged from around $16,000+ to $21,600 (28% up). The key questions in all the investors’ mind are:

  • Has Bitcoin and Ethereum bottomed?
  • Is this the start of new bull market?
  • Have we miss the boat. Should we FOMO in?

In this article, we are going to research into this topic (DYOR) and attemp to address this question.

Technical Analysis

Daily Charts

Looking at the daily charts below, BTC has touched the upper band of Bollinger Band, RSI is coming down from overbought level, and both %B and MACD are coming down.

BTC Daily Charts, Bollinger Bands + RSI + Supertrend

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Crypto Zen Monk
Crypto & Zen

Generative AI, Engineer, Crypto & Stock & Option Investor, DeFi, NFT & Zen. Sincere passionate writer with a strong will to share knowledge.