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Start of the Gann Year 2023

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

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.

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

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

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.

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.

Thus, the following fan ranges open up for 2023.

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

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