So everyone is comparing this trend to our last significant drop where we consolidated in the low 30k zone but had a support bottom of 28.3, though we are just slightly above this support, this down trend is nothing like the last. last time we saw a consolidation of price around 33-35k, whereas now we are seeing a consolidation lower than this. we know this because our previous down trend had long wicks that only dipped to our support bottom where we saw large bounces immediately, so far we have seen the exact opposite. this consolidation of price at the bottom of the wick currently sitting at about 29.5 is a good indication we still have wick bottoms to meet (hopefully with a bounce) yet the crypto market is not the only thing suffering. ust/luna took a shit and now be prepared for a long hodl of assets. i do believe we will see a large rally but i think we have a few months to go.
side note btc is still in a halving cycle.
HODL ON!!!!!
side note btc is still in a halving cycle.
HODL ON!!!!!
