BTC
BTC has come back to the major support zone of 30000-29000. It is down by almost 56% from its all time high.
Lets have a look at the previous bearish cycles.
Dec 2017- Dec 2018 bearish cycle: Btc went up to it's ATH at 19666 and retraced around 85%.
June 2019 - March 2020: Btc went up to 13880 and retraced around 72.5%.
November 2021 - Current: Btc went up to 69000 and has retraced almost 56% now. In the past 2 bearish cycles, it retraced more than 70%. So we can say that there is a high chance that it might come back to 19500 before another bull run.
Technically, closing a weekly candle below 28500 will lead to 19500.
Lets have a look at the previous bearish cycles.
Dec 2017- Dec 2018 bearish cycle: Btc went up to it's ATH at 19666 and retraced around 85%.
June 2019 - March 2020: Btc went up to 13880 and retraced around 72.5%.
November 2021 - Current: Btc went up to 69000 and has retraced almost 56% now. In the past 2 bearish cycles, it retraced more than 70%. So we can say that there is a high chance that it might come back to 19500 before another bull run.
Technically, closing a weekly candle below 28500 will lead to 19500.
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