#Bitcoin Update๐ฅ
Technically, we are repeating the same movement as in 2017.
Bitcoin dropped by -84% from all time high from $19,799 to $3,159.
As displayed on the chart, the major zone that served as a strong support was violated and Bitcoin dropped by -47% from $6,000 support to $3,159 in 2017.
This same setup is repeating itself. The current bear cycle started in November 2021. So far, Bitcoin has dropped by -58% from all time high from $68,996 to $29,000.
Price has been respecting the major support within $29,000 & $30,000 so far. Just as 2017, support got violated at the tail end, therefore I expect a similar reaction and a drop by -47% or less from major support at $29,000 to $16,000 or $19,000.
Not a financial advice๐ ๐ผโโ๏ธ
Share your opinion in the comment sectionโ๏ธ
Please support this idea with a LIKE๐ if you find it useful๐ฅณ
Happy Trading๐ฐ๐ฅณ๐ค
Technically, we are repeating the same movement as in 2017.
Bitcoin dropped by -84% from all time high from $19,799 to $3,159.
As displayed on the chart, the major zone that served as a strong support was violated and Bitcoin dropped by -47% from $6,000 support to $3,159 in 2017.
This same setup is repeating itself. The current bear cycle started in November 2021. So far, Bitcoin has dropped by -58% from all time high from $68,996 to $29,000.
Price has been respecting the major support within $29,000 & $30,000 so far. Just as 2017, support got violated at the tail end, therefore I expect a similar reaction and a drop by -47% or less from major support at $29,000 to $16,000 or $19,000.
Not a financial advice๐ ๐ผโโ๏ธ
Share your opinion in the comment sectionโ๏ธ
Please support this idea with a LIKE๐ if you find it useful๐ฅณ
Happy Trading๐ฐ๐ฅณ๐ค
