Bitcoin Weekly - Do you remember November 2022 ? It May repeat

The way things are playing out right now are beginning to make me think we are towards the end of a Mini Bear market with Bitcoin.
Nothog like previous Bear markets were we saw -80% pull backs but still painful to many.

Let us remind ourselves of what happened in November 2022


For Weeks in September and November 2022, we saw overall decline, attempted recovery and then, BANG, that -26% Dive to the Bear market Low.
That also reached sown to the Long Term line of support, a line that has NEVER been crossed.
That same line has supported this Cycle Run on a Few occasions and I think we may well get to that line again this month.

As mentioned recently in my Monthly Candle Colour post, we have just repeated many similar moves.

The Current position is this.


If we reach down to that line, it is a -20% drop if we get there next week.
This all sounds a Bit drastic maybe but if we remember that IF it is mimicking the End of a Bear market, the one from 2022, then the future does look a little more rosy.

It is also worth Zooming out and looking at the bigger picture.


That is the monthly chart and it puts everything in perspective. This -20% move is NOTHING by comparison.
The Bold white line is the line of support we may reach and the Blue Arc is the Long Term point of Resistance.
The MAIN battle PA has had since November last year is that Blue Arc.
See that here.


So, there we have it, We may Scare the pants off a few people this month and PA could reach the 88K mark..That is below Cost Basis for many and would destroy confidence.
But look what happened in 2022...............................................

This is just an idea and may not happen.
But until things turn around this is what I am seeing
What an excellent Buying opportunity.