Why is Bitcoin going up? Will cryptocurrency crash again in 2023? Today we are joined by Technical Analyst, Tom Crown, to talk bitcoin, ethereum, altcoins, & MORE! LEAVE A COMMENT 👈
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TimeStamps:
00:00 Intro
00:59 Next Bitcoin Price Target
02:08 Bitcoin Price Prediction Today
04:31 Bitcoin Price Prediction by EOY
07:38 This Will Fool MOST Crypto Investors (Watch Out)
08:22 What If You Are WRONG?!
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I think right now in this moment is Unlike any time maybe anyone even alive Has ever lived through uh there is crazy Things going on right now in the world That a lot of people aren't aware of and It's probably not what you're thinking Out there today I interview technical Analyst Tom crown and based on the Charts Tom gives a pretty shocking Bitcoin price prediction be sure to Watch the full video for a full Understanding and very quickly how does Macro relate to bitcoin and Tom for you I think maybe I'll tell your audience I'm a bit of a maxi not the kind you Think but I believe in Bitcoin totally Like 100 and so when I see macro things I definitely try to take them into Account but I have a bias where at the End of the day I don't believe Bitcoin Can be defeated and so it almost doesn't Matter what the macro is I think it's Going to have a moment where it thrives And it's likely that moment would be Where it's ignoring you know the most Compelling macro factors that's That's probably my best answer on that So let's talk about next price target For Bitcoin because we have rallied a Lot in 2023 what do you see in the Charts for next I'm pretty bullish on this year I do Have some concerns though like uh Basically I'm feeling some similar Vibes
To when we had 2018 you know we have a Really long a prolonged bear period and Everyone kind of thought the bottom was In around 6K and then we fell uh down to Three and Desperation was everywhere and I got those vibes actually at the end of Last year that same desperation and kind Of in a very mirroring fashion into 2019 We saw an awesome rally that just blew Everyone's socks off at that point we Got a we got a pretty similar rally in January it hasn't had the same Characteristics of 2019 so far but I am Using that as my guide for this year so I think to answer that I'm bullish on This year I'm not convinced that it is Going to be the rally yet I'm hoping I'm Wrong though right So more of a crypto spring instead of a Crypto summer I've heard this show me The charts I want to see what you're Looking at Sure So in the short term I shared this on Bit boys channel mid-march uh this is Just a basic pattern it's called a Broadening wedge and I have them Numbered here And basically what it is is three Touches to the top of a trend two to the Bottom and you break out and so what's Cool about this is when I shared it Originally it looked like this so maybe A little bit more meaningful for the
Viewers out there like right now this is Uh it's pretty easy to say yeah well it Already happened right uh that's not Really predicting much so what I'm Seeing here in the very short term or Maybe in the next few weeks is I was Looking for a pullback to that Trend Which we got I think at this low here at 26.5 left everyone waiting everyone was Looking for this 200 weekly moving Average that all Traders were looking at We finally retook it uh mid-march and We didn't quite get the right pullback And if orders weren't filled lots of Capital was left on the sideline still And I think that is the recipe for Another move to the upside so by the end Of the year I'm probably looking in the 48 000 range I know there might be some Hopium but maybe a shorter term more Uh satisfying Target I'm looking for Like 32k maybe uh In this month of April So you think forty two thousand dollars Roughly to just get everybody excited Enough thinking we are back in Bull Run Territory and then multi-month Correction after that Yeah that's a that's a really intuitive Statement you just made that I totally Agree with is what is the value that Everyone believes we're back in the bull Market and my personal opinion is Actually 48 though 42 is actually like
The lower range of that uh 48 like 50 000 is that number where I think it hits People in the brain and their brain goes Why are you waiting you've been waiting Since you know 15 why are you waiting uh Whatever number really gets everyone Super excited again and very confident That the bull market is back that is Where I believe it is most likely to Find a reversal and to see price maybe Mere 2020 hopefully not exactly the same Knock on wood uh but where we see you Know that explosive growth and then Kind of back to reality crushing a Little bit of that Euphoria and then Making the final move up to a new All-time high Tom I want you to take us Back to the charts I want to zoom out a Little bit and ask you based on the TA Today Give me a price Target or range for Bitcoin by end of year so by by end of Year that doesn't really change out much I'm really looking for a similar move to 2019 until proven wrong I would love to Be I'd love to see a new all-time high This year but all we really have when we Look at charts is past data and that Gets criticized a lot and I understand Why it doesn't guarantee a future But it is all we have to work with so I Always ask well what else what else we Look at you know what else are we using As a reference so if we use 2019 as a
Reference like I did with the 48 000-ish Area I think what we see is a run up similar To 2019 that extends to roughly the same We call it retracement in trading and so Retracement is just when price Moves In One Direction and it turns around and Comes back and retracements try to Target what percent of that has it lost So if it goes up 100 comes back 50 it's Retraced half right it's lost half of Its gains and if we compare 2019 to the Bull run and the highs we had of 21 Around 69 000. we see that there's some Similarities here it would be a really Similar retracement it is 786 don't Worry the specific number isn't really Important it's just kind of judging how Much of the gains or losses did it give Back and On top of that we saw the all-time high Previously close its monthly candles at Around 14 000. that's where 2019 hit as It's high and we have a pretty similar Thing going on in 2022. this this like Probably looks like Charlie Kelly from It so he's Sunny in Philadelphia with All the lines everywhere and the guy Yelling but um at this point I'll just Lean into it so like 45 ish this is a Rejection on the monthly level if we Want to make it exactly the same it Doesn't really line up quite as well That'd be 60. I think that it's it's
Really hard uh the Zone here that I'm Looking for this year which I believe is Reasonable is somewhere in the range of Like 42 to maybe as high as 60 but I Think as a safety call like 50. I think That we do see those numbers I honestly Wouldn't be surprised to see them in the First half of the year which doesn't Give us that much time now But until we can really push past and What sucks is that number gets really High where you can actually even look For confirmation We're stuck in this like 2019 thing Until proven otherwise I understand what you're saying now it Makes sense you're saying that just like 2019 rallied in the middle and then Fizzled out and Consolidated by the end You're saying that Uh the highest you believe until proven Otherwise we will go in 2023 is between 42 to 48 somewhere around there Allah 2019. I think those are the I think those are Great targets for this year and I think The thing that will be the staple of it Though is what you pointed out earlier Is notice the people around you and what They're feeling because sentiment is so Important in this market once everyone Is convinced that the bull market is Back you have no doubts you see Perma Bears people who have been calling down
You know for years turning around and Saying hey we're going up now that's Probably going to Mark the top the same Way it always has um I really do hope I'm wrong I really hope you see a new All-time high this year it wouldn't fit Anything we've seen in the past but I Will say that I don't believe that 2021 Really fit anything we've seen in the Past either when you look at upside Growth and now even potentially the draw Down from the high just doesn't really Fit so maybe we have a recipe for a Really exciting year I certainly hope so Final question before I pick your brain We're doing a full another interview on Dogecoin on xrp on altcoins from a TA Point of view Biggest counter narrative to say that This time is different than 2019 is the Fed is actively taking money out of the System we're raising rates uh an ultra Aggressive amount very different Thoughts I think right now in this moment is Unlike any time maybe anyone even alive Has ever lived through uh there is crazy Things going on right now in the world That a lot of people aren't aware of and It's probably not what you're thinking Out there uh for instance the first International LPN gas deal between China And France was settled in the Juan it Might not sound crazy but that means
They bypassed the dollar I'm not gonna Have any Doom predictions here today I'm Not going to say the dollar will fall or Something like that but this is Unprecedented times we have not seen This I believe since 1920 or something Like that since they just became the Reserve Um There's maybe again no one alive that Has ever experienced what we're seeing Right now and I wish I knew the future Man I would be I don't know if I'd be doing This interview if I knew the future I'd Probably be on an island somewhere so You're saying that now is the time to Believe in Bitcoin because there's crazy Macro stuff going on in the world this Is bitcoin's moment You know I I think those are great words Too uh yes in a way yes it please don't Put every penny you have or something Into Bitcoin and mortgage your house or Something take huge risks don't do that But if you're sitting there and you have Never had exposure in your portfolio to Bitcoin I believe even a small percent even a Tiny maybe something that feels Insignificant Could turn out in a maybe only short Multi-year time frame to be a really Significant investment looking back hum
Crown crypto links for your stuff are Down below you have great perspective I Want to have you back on six to eight Weeks Foreign
