Coin Bureau: BTC will rise to $47,000

The window it was checked over

BTC closing prices, adjusted for splits. The shaded span is the one-year window: it starts at the first close after the video went public and ends at the last close on or before one year after the day the video was published.

What was said around it

extension and as we mentioned in our Weekly Newsletter the absence of big macro factors this week could put crypto factors back in the driver's seat so be sure to subscribe so you don't miss our weekly Market forecast the link is in the description now turning to the charts we can see that BTC continues to chop around a key level of 43k notably this level lies at the upper range of a channel that BTC has been trading in since early December although there have been multiple breaks above and below this channel there's been no firm breakout given that the width of this channel is around 3K this means that BTC could either break out to 47k or break down to around 37k given that many Traders appear to be expecting an imminent correction the path of most pain would be for a sudden rally to take place which could cause a short squeeze to 47k believe it or not but the Catalyst for this short squeeze could be Chinese New Year which will happen on Sunday it's possible that Traders will begin to price in a potential rally causing it to occur sooner now for context btc's price rallied significantly after the the start of Chinese New Year last year and if you want to maximize the rally or bet against this

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