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Why do I, and a lot of other analysts that I respect, think there is more downside in the Crypto Market?
I'll explain ONE of the simplest ways I see it.
I'm marking on a Yellow box a -55% to -72% retracement range from Bitcoin's cycle top. Meaning, if the price gets into the box, the price has already retraced at least -55%.
Average retracement from previous cycle tops is -82%
In 2014, it was -87%
In 2018, it was -82%
In 2022, it was -77%
In 2026, a -72% based on a 5% decline in retracements, sounds reasonable.
I think -72% could be the maximum retracement BTC could perform this bear market.
There are a lot of angles I analysed for the minimum retracement I think possible (-55%), and I won't go into details there, but if price enters that range, I'll start DCAing aggressively.
The range is between 59k USD and 35k USD.
As an investor, I'm always prepared if I'm wrong, and the probability, even if small, that the bottom is already in at 60.2k, could be confirmed if BTC goes above 82k and holds for a couple of weeks. Then I can start thinking about pivoting.
Hope this post helps someone.
@benjamincowen The first cross has not marked the bottom. As Ben mentioned previously, unless a major liquidation event occurs in June, the probabilities suggest that a lower low may occur later this year. This is a great chart
S&P entered the weekly GC and bounced at the middle line. Historically, Ones entered the weekly GC; it ended up going below it the 90% of the time. At this stage, I'm favoring shorts here over new all-time highs
To put things in perspective:
If the United States owned all the gold in the world and sold it at todayโs market price, it still wouldnโt be enough to pay off its current national debt.
Thatโs how insane the numbers have gotten.
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The man was seen getting pummelled by a local after throwing a rock at the seal on Maui.
The man who took matters into his own hands has been awarded a letter of recognition by Republican state Sen. Brenton Awa.
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The 37-year-old tourist is facing fines of up to $50,000 and jail time.