Bitcoin to rise in a row for three days

Bitcoin, which closed the first day of the new year with a rise and was priced at $ 16,750 this morning, started a 3-day upward series. Ethereum, on the other hand, continues its course above $ 1200 and instantly finds buyers at $ 1215. The first trading day of 2023 in global markets will be today. Recession, which is the title we expect to hear the most this year, was also used by IMF Director Georgieva in the morning. Investors were frightened by Georgieva's statement that a third of the world could fall into recession and that 2023 will be tougher than last year.

Bitcoin to rise in a row for three days

On the first trading day of the new year, European stock markets are trading between 0.5% and 1% in the morning hours, while US futures are progressing horizontally. Manufacturing data will be followed in the UK, USA and Europe today and tomorrow, and it may have a high impact on intraday pricing. The most important agenda topics of the week will be the FED Minutes, which will be announced tomorrow, and the Non-Farm Employment data, which will be announced on Friday. We can say that the eyes and ears of the markets are in these data.

Domestically, the agenda this morning is December inflation data. In December, inflation was announced as 1.18%, against the monthly expectations of 2.6%. Turkey closed the year 2022 with 64% inflation.

Bitcoin technical analysis

The fact that it still shows activity on the rising trend causes its positive stance to continue. In the continuation of the upward movement, the first resistance level is $ 16830, which is the 50-day moving average, and then $ 17000 levels can be met. The Bollinger band is quite narrow due to the volumeless activity and after a while it may cause a sharp movement. On the downside, the ascending trend line $16575 can be expected to act as support. If it fails to hold this level, $16370 could work as the next support level.