Bitcoin Bear Market Bottom + Recovery (1-5 Months)

17 нояб. 2022 г.

Good aftertoon my fellow cryptocurrency traders, I hope you are stayng strong in these trying and fearful days.

The cryptocurrency market is going through massive panic which is part of the bear market climax/end... Do not need to worry, the bear market is now in its final phase.

Bitcoin hit a high back in April 2021.
A bouble top was hit November 2021.

We've been in a downtrend after November 2021, marked on the chart with a black dotted line.

As long as this downtrend remain in place we are still looking for a new low/bottom.

Once this downtrend is broken, we can confirm the end of the bear market.

The bottom is not a one day event but a process.

Looking back to November 2018 we can see that it took several weeks to form a bottom and many more weeks to complete a recovery.

We can expect to see another 1-5 weeks for the bottom to be fully confirmed. That is within Nov./Dec. 2022.

And another 3-4 months for a recovery when the downtrend is broken.

In all, we can say around 1-5 months for the end of the bear market.

Note: We can have fast/strong recovery as in the "V shaped" after the bottom is hit, which can reduce the time it takes for the bear market to end.

But first we set the bottom, around 11.3K and then we see how the market reacts and let it play...

Last weeks breakdown is only the beginning... It takes time for this full move to develop but Bitcoin will recover for sure.

We are waiting for the bottom to be fully confirmed to comeback and read the charts full time with you.

See you soon.

Namaste.