let´s have a look at the monthly chart of Bitcoin. You can see logarithmic trend line and the price was swimming in the comfort zone and we´re STILL in this comfort zone!!! ( Now take a deep breath and go on reading)
What I have drawn are the last two bear seasons. The Price went down up to 86 % and it took about 3 years to see reach that level again. The downtrend phase took about 1,5 - 2 years, before the bulls slowly could take over. Now drawing the fibonacci levels shows us that the price always went under the .786 level and bounced back for a trend reversal. The current cycle or last ( whatever you want to call it) has the interesting fact, that we have seen two close aths with short correction period. With both aths Bitcoin has built a so called double top, which is supported by the fact, that the MACD made a bearish crossover. I would say, that the bear have finished winter sleep early and I will not be surprised on lower price levels down to 20 k ish...
Th bullish scenario was a maximum oif 76-79 k USD before dipping down, but the market is exhausted, inflation, corona and many other different impacts made the market lose money. I am sure, that a lot of whales and others cashed out in profit, which is good. Never forget to realize your wins!
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