Bear Market Rally or the start of a new Bull Market ?
By comparing the amplitude and duration of the last long bearish periods in Bitcoin, we can see how painful the current downward movement is.
In terms of both the duration and magnitude of the decline, the current bear market has been somewhat “mild” compared to both the 2014 and 2018 bear markets.
In 2014, with short/medium term bullish movements of up to 83%, enough to believe that the worst is over.
We also saw the same type of movement taking place during the 2018 bear market, with a recovery of over 65%.
These movements are created by local sales exhaustion.
if the current movement is repeated, we will find the region of maximum pressure at the end of the year, starting in October. Within a trading range between $10,000 – $14,500.
This is just an observation through comparison based on previous moves, however we know that past moves do not guarantee future moves but give a good view of the probability.
by caueconomy
