In the 2017 bull market, Bitcoin experienced 5 major pullbacks. These pullbacks ranged between -29% to -40%.
The average bull market correction was about -35%. Keep that in mind if you are worried about this correction.
Price is currently neutral, a game of tug of war between the bulls and bears. We could see further down side if we don't have significant closes above $55,000. Let's see who wins!
For long term bulls looking to add to your positions the green boxes are great buy zones.
For bears looking to get short, wait till there is a decisive move out of the battle zone box and you can take a short position to the next support level.
The average bull market correction was about -35%. Keep that in mind if you are worried about this correction.
Price is currently neutral, a game of tug of war between the bulls and bears. We could see further down side if we don't have significant closes above $55,000. Let's see who wins!
For long term bulls looking to add to your positions the green boxes are great buy zones.
For bears looking to get short, wait till there is a decisive move out of the battle zone box and you can take a short position to the next support level.
Comment:
Well as we know, bulls lost the zone. Bears have the ball and 50k is the current battle zone, but I expect further correction. How much? No one can be for certain so I will not say. I am not a crystal ball wizard man but I am buying on the dip levels I have outlined in my new chart I just published. Have a game plan, and know what to expect. Thanks.