Hey traders, been a bloody past 4-days in the crypto space.. hope ya'll been keeping it together
in this chart i quickly sketched out my observations for the last four months since we broke 20k highs,
First i'd like to say the BULL Market is not yet over,
Taking a close look at the chart we find that since January after remarkable highs
we always experience a heavy retracement %.
Following our chart we find these:
Retracement Percentage in January --- 32%
Retracement Percentage in February --- 26%
Retracement Percentage in March --- 18%
Retracement Percentage in April(Presently) --- 22%
Due to past trauma and the heavy amount of liquidation in the futures market for day-traders,
people get very emotional and thus easily think its the end of the bull market
but paying close attention with an unbiased view we see theres really not much to worry about the current dip of 50k
which in my opinion is a very healthy correction.
I believe the 50k price mark will be the baseline and max stretch to 48k which is quite unlikely.
Second observation:
The current retracement shows a very close semblance to that of Feb as both February and April Declined rapidly in about 4-6days
and if April is anything like February i believe the retracement to a new ATH will happen between 13-20days from now which will be in May
Lastly:
From my previous analysis :
I shared my obervations about the Halving effects and bull market range:
In the chart we find that each past two bull market after the halving took an average of about 500days to max out.
Currently we are about 343-days since the last halving which makes me strongly believe that we still have a minimum of about
155days until we max out and that should be between September and November this year.
These are just my thoughts, do share yours in the comment section below would love to hear it
in this chart i quickly sketched out my observations for the last four months since we broke 20k highs,
First i'd like to say the BULL Market is not yet over,
Taking a close look at the chart we find that since January after remarkable highs
we always experience a heavy retracement %.
Following our chart we find these:
Retracement Percentage in January --- 32%
Retracement Percentage in February --- 26%
Retracement Percentage in March --- 18%
Retracement Percentage in April(Presently) --- 22%
Due to past trauma and the heavy amount of liquidation in the futures market for day-traders,
people get very emotional and thus easily think its the end of the bull market
but paying close attention with an unbiased view we see theres really not much to worry about the current dip of 50k
which in my opinion is a very healthy correction.
I believe the 50k price mark will be the baseline and max stretch to 48k which is quite unlikely.
Second observation:
The current retracement shows a very close semblance to that of Feb as both February and April Declined rapidly in about 4-6days
and if April is anything like February i believe the retracement to a new ATH will happen between 13-20days from now which will be in May
Lastly:
From my previous analysis :
I shared my obervations about the Halving effects and bull market range:
In the chart we find that each past two bull market after the halving took an average of about 500days to max out.
Currently we are about 343-days since the last halving which makes me strongly believe that we still have a minimum of about
155days until we max out and that should be between September and November this year.
These are just my thoughts, do share yours in the comment section below would love to hear it
