4 Charts Proving We’re Near The End of The Bitcoin Bear Market 1910

btc prices

When it comes to Bitcoin, market sentiment continues to fall. Ironically, there is one final stage that we have to go through before we can even start dreaming of leaving this bitcoin bear market & reaching new all time highs.

The complete loss or absence of hope. Despair – it’s real and is currently being allowed to fester within the crypto community. Thankfully, that is exactly what you want to see. When everyone is depressed it’s pretty safe to assume the bottom is near.

The previous correction lasted 669 days total. A 40% reduction is 267 days.

Market recoveries are complex. With many stages & facets which could very well be expanded beyond this list. Selected below you will find 4 charts from various independent sources. All trying to make a case; why we could be at the tail end of the Bitcoin bear market.

1.) Fastest Bitcoin Correction In a Bear Market To Date

Previous corrections saw Bitcoin consolidate precisely at the 78.6% fibonacci retracement level for exactly 273 days. Historically, the 78.6% retracement shows up in either young assets or the weakening of a trend in an old one.

  • The correction currently taking place has taken 40% less time to crack the 61.8% fibonacci retracement level. 202 days as opposed to 334.
  • The previous correction lasted 669 days total. A 40% reduction is 267 days.

We are roughly on day 202. Which leaves 65 days left until the bull market. (source)

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2.) So Many People Are Still Trying to Short Bitcoin

The number of open “BTCUSDSHORTS” positions on Bitfinex is one of the most accurate ways of telling if the number Bitcoin margin shorts are getting a bit overextended. Eventually, all of these short positions will need to be closed (and/or liquidated) fuelling the next bull market.

When the overall general consensus becomes one of “prices will inevitably go lower”. You can expect the opposite to happen 99% of the time.

3.) An Inverse Head and Shoulders Pattern That Could Spark a Massive Bull Run

btc head & shoulders
In technical analysis, an inverse head and shoulders pattern describes a chart formation that predicts a bearish-to-bullish trend reversal. The inverse head and shoulders pattern is touted as one of the most accurate trend reversal patterns. It is one of several bottom forming patterns that signal, with varying degrees of accuracy, that the downward trend is nearing its end.
However, in the case of Bitcoin in order for the right shoulder to form, there is some major resistance that needs to be broken first.

4.) Everyone “Knows” The Price is Going to Go Down

btc bubble chart
You’ve heard it all before. “Bitcoin is going to $4000!”, “$3000!” or even “$1000!”. Whatever the case may be, you cannot impose your will upon the market. When the overall general consensus becomes one of “prices will inevitably go lower”. You can expect the opposite to happen 99% of the time. Do the opposite.

Understanding the various factors, and exactly what to watch for can leave you better prepared when examining the crypto markets. It will also allow you to stay above the mainstream and see financial opportunities before everyone else.

What are your thoughts on the current state of the market? Do you see it going up or down? Let us know in the comments below! Also, before you go, make sure you’re following us on Telegram | Twitter | Facebook

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