Well, as I promised in the Bitex channel, we want to take a closer look at bitcoin retracements in time and price:
the first cycle: It took 18 days, 23% of the first wave was corrected and we spent more time in the correction until the uptrend started.
Cycle 2: It took 18 days with 38% price correction within the Falling wedge pattern and the opportunity we took advantage of and picked up the alt coins holding basket for the bull run after that.
Third cycle: In 21 feb, a new correction cycle started and so far it has corrected 38% of the wave, and in my opinion, in the worst case scenario, we will have a price correction of up to 41k or 38k, and in terms of time, we will end up in 18 to 21 days. And then began a new uptrend and the next bitcoin bull run to $ 72,000
I am preparing a portfolio of altcoins holding for the next 3 to 6 months, and I am preparing our orders for correction up to 38k and 40k and then I will wait until the next alt season starts
Also, a quick look at the 3Days Bitcoin chart shows that these corrections are natural and there is no need to worry and panic :
Remember how we predicted the previous alt season;)
What do you think about the next bitcoin trend?
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Bitcoin as I expected, touched the bottom of the wedge nicely and then moved on to the first two targets. I'm still bullish and I am waiting for 63k and 72k