Is the Bear Market coming to an end?
Not much has changed since my last analysis. As you know, I’m still bearish, and I said that as long as we don’t manage to break above $67K, Bitcoin would likely move back toward the $60K area. You also know that my analysis is based mainly on technical analysis and psychotrading. There isn’t much new to analyze here because the structure really hasn’t changed, but let me tell you something: There are still roughly 50 days left of the bear market if the cycle continues developing as expected. For some time now, BTC has been moving sideways within the $60K-$65K range.
But why?
The reason is quite simple: we are in an accumulation phase, which means we’re forming the bottom or getting very close to it. We could still see one last liquidation spike below the range before the market gradually starts to rise.
On the daily timeframe, we can see that the area around $62K holds up well as support, while the $65K-$67K area continues to act as resistance.
Does that mean we’re bullish?
No. Not yet.
We’re still in a bear market. But if history and the cycle repeat, there may not be much time left.
We should also remember that we’re in the summer period, when markets usually experience lower activity and reduced volatility.
But this is often what accumulation looks like.
$BTC
$MAR.US
$ACU
#bajista
Not much has changed since my last analysis. As you know, I’m still bearish, and I said that as long as we don’t manage to break above $67K, Bitcoin would likely move back toward the $60K area. You also know that my analysis is based mainly on technical analysis and psychotrading. There isn’t much new to analyze here because the structure really hasn’t changed, but let me tell you something: There are still roughly 50 days left of the bear market if the cycle continues developing as expected. For some time now, BTC has been moving sideways within the $60K-$65K range.
But why?
The reason is quite simple: we are in an accumulation phase, which means we’re forming the bottom or getting very close to it. We could still see one last liquidation spike below the range before the market gradually starts to rise.
On the daily timeframe, we can see that the area around $62K holds up well as support, while the $65K-$67K area continues to act as resistance.
Does that mean we’re bullish?
No. Not yet.
We’re still in a bear market. But if history and the cycle repeat, there may not be much time left.
We should also remember that we’re in the summer period, when markets usually experience lower activity and reduced volatility.
But this is often what accumulation looks like.
$BTC
$MAR.US
$ACU
#bajista