Hello Traders and Investors,
Bitcoin have officially entered in a bear market since it dropped more than 40%. Every previous bear market was initiated with a 40%+ sell off. The question now everyone is asking "where will be the bottom?".
If you're new to crypto and never experienced a full cycle, then welcome! It is normal to see Bitcoin drop 80-90% from it's ATH to the bottom. Every time Bitcoin does this, it is actually setting up a higher low on a multi-year time frame.
I am a long term crypto/bitcoin bull. But the best way to make money in crypto is to play the cycle. And the best way to play the cycle is be ready for it and not be narrow minded.
As indicated on the chart. Bitcoin always retest its previous ATH before going higher; previous ATH is 20k. THIS IS A GOOD THING! We want price to confirm a solid ground before going higher. Price confirmation is what new and serious investors want to see.
10k is also possible, since that is an attractive price zone which set off the bull market back in 2020. This price area also lines up with the .618 fib, a highly magnetic area in the market. Also, if Bitcoin repeats history with an average of 85% correction from the top. Then 10k lines up perfectly with it as well.
I have outlined the accumulation zone on the chart; between 10-20k. This is where I will be looking to buy into crypto again. There is never an exact price someone can predict for the absolute bottom or top, that isn't the game being played. You just need to have a plan to win in the market. This is my plan.
I believe this bear market will be relatively short compared to the past and I think with mass adoption on the way, the bull market will appear again in the later phase of 2022.
Let me know what you think.
Bitcoin have officially entered in a bear market since it dropped more than 40%. Every previous bear market was initiated with a 40%+ sell off. The question now everyone is asking "where will be the bottom?".
If you're new to crypto and never experienced a full cycle, then welcome! It is normal to see Bitcoin drop 80-90% from it's ATH to the bottom. Every time Bitcoin does this, it is actually setting up a higher low on a multi-year time frame.
I am a long term crypto/bitcoin bull. But the best way to make money in crypto is to play the cycle. And the best way to play the cycle is be ready for it and not be narrow minded.
As indicated on the chart. Bitcoin always retest its previous ATH before going higher; previous ATH is 20k. THIS IS A GOOD THING! We want price to confirm a solid ground before going higher. Price confirmation is what new and serious investors want to see.
10k is also possible, since that is an attractive price zone which set off the bull market back in 2020. This price area also lines up with the .618 fib, a highly magnetic area in the market. Also, if Bitcoin repeats history with an average of 85% correction from the top. Then 10k lines up perfectly with it as well.
I have outlined the accumulation zone on the chart; between 10-20k. This is where I will be looking to buy into crypto again. There is never an exact price someone can predict for the absolute bottom or top, that isn't the game being played. You just need to have a plan to win in the market. This is my plan.
I believe this bear market will be relatively short compared to the past and I think with mass adoption on the way, the bull market will appear again in the later phase of 2022.
Let me know what you think.
