SkylerBTCtrader

Bitcoin Multi-Year Bear Market Visualization

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
This is a clear visual idea of a next bitcoin bear market. My current philosophy is so many people know about bitcoin it will take years for many to become uninterested and dump their bags. Bullish action expected because bitcoin is still developing from a recent bullish uptrend. Now this bearish action we seen is just blinding. Many Crypto investors seen action happen so quick they have short attention spans when bearish moves happen, "expecting lambos."

Do not be surprised after years pass that bitcoin reaches a bottom of around $2,000.

Every uptrend can be rejected and brought down. Just cause we go up will not call a bull market. Truth is a bear market starts when the candles are below the 50 & 200 MA and bouncing with rejections, "Bearish action."
A bull market starts when breaking without rejection from moving averages 200 MA specifically. When bouncing of f 200 MA I consider that true bull market confirmations

Currently we have been rejecting the 200 MA often and sent back down with bearish momentum in the works with this down trend.
"Even if we break above and bounce if we break below again it will strengthen the bearish movement."

Lets say 2024 Bitcoin is at $3,000 low volume sideways and 200 MA been flat for some time and then bullish momentum starts.

Be ready for the lambos then.

DR . FOMO
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