Start of the Gann Year 2023

We're kicking off 2023 with a strong breakout from the previous base formation at $15,400.

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The last minor trend reversal of the current quadrant occurred on January 6th, pushing the price towards $21,000 into the next higher fan range.

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Along the Gann arc (green), a range up to $27,782 opens up, with support at $20,143.

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Upon entering the arc, a short correction is expected with support at $21,880.Bei Eintritt in den Bogen ist eine kurze Korrektur zu erwarten mit einer Unterstützung bei 21.880$#

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The trend reversal coming up on March 1st will be crucial. Another exaggerated variant follows this course, facing its biggest obstacle between $34,000 - $36,000, potentially echoing the year 2019. The likelihood of such a short-term bull run is extremely low and would become evident with the onset of the next correction.

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Looking back at the last analysis from September 2022, a strong limitation at $26,777 is evident around the trend reversal, leading us to this more likely (green) variant.

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Thus, the following fan ranges open up for 2023.

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The next update will follow after the trend reversal on March 1st.

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