BTC Bear Market Bottom Speculation
This speculation is based on the logic that BTC has experienced three major ups in the past.
Right now, we're witnessing the formation of the third downtrend.
As shown in the chart, BTC's first drop was from 126K to 80K, a decline of 36%.
The second drop was from 97K to 59K, a decline of 38.8%.
So, let's assume the third drop for BTC isn't finished yet.
If we follow the 1:1 logic based on candlestick patterns, a 36% drop would put BTC at 53K.
A 38.8% drop would bring BTC to around 50K.
If the market conditions shift, there could be slight deviations.
Thus, my speculation for the bottom of BTC lies around 50K, give or take 3K.
This corresponds to a price range of 47K - 53K.
If it hits this zone, I'm going to buy BTC and hold for the next bull market peak.
This speculation is based on the logic that BTC has experienced three major ups in the past.
Right now, we're witnessing the formation of the third downtrend.
As shown in the chart, BTC's first drop was from 126K to 80K, a decline of 36%.
The second drop was from 97K to 59K, a decline of 38.8%.
So, let's assume the third drop for BTC isn't finished yet.
If we follow the 1:1 logic based on candlestick patterns, a 36% drop would put BTC at 53K.
A 38.8% drop would bring BTC to around 50K.
If the market conditions shift, there could be slight deviations.
Thus, my speculation for the bottom of BTC lies around 50K, give or take 3K.
This corresponds to a price range of 47K - 53K.
If it hits this zone, I'm going to buy BTC and hold for the next bull market peak.