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Eruptions Newsletter 1-18-23

Bitcoin BTC has ranged between $17.9k and $21.7k with a week over week price change of +15.89%.

Bitcoin has now completely erased the FTX crash, reclaiming $19.5k after double bottom reversing out of the $15k-$18k range.

Price has broken above the 3day Lava MAB for the first time since it fell below at approximately $58k BTC.

Historically, this is a strong predictor that the worst of the bear market is over, and that the trend has changed back to bullish.

Below is the 3day chart with our custom moving average band overlayed. As you can see, price has reclaimed above the band.

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