A little earlier, when it dipped, many people asked nervously: Is it about to crash? Will it drop all the way back to 60,000? After a surge of another $20,000, the market consolidated; plus this bear market has kicked off three months early, the major inflation data coming this Friday, and the interest rate decision next Wednesday—having fear of missing out is completely normal. But don’t forget: the first time the price broke upward on heavy volume, I already said that 83,000 is simply a place where multiple key levels overlap. The most likely retracement zone—$BTC —is between 83,000 and 85,000. If we’re retracing there now, it’s normal, healthy, and entirely within expectations.
The past few days have been interesting: when the price rises a bit, the question becomes, “Am I too late?” When it dips a bit, the question turns into, “Is it going to collapse back to 60,000?” Many influencers are the same too. They originally called for a crash from 60,000 down to 30,000 or 40,000; after the price climbed, when it retraced again, they started shouting that it would fall back to 60,000. The early stage of a bull run is where fear is easiest to trigger—but often it’s exactly this kind of psychology that makes people miss the very first phase, and the best opportunity.
The past few days have been interesting: when the price rises a bit, the question becomes, “Am I too late?” When it dips a bit, the question turns into, “Is it going to collapse back to 60,000?” Many influencers are the same too. They originally called for a crash from 60,000 down to 30,000 or 40,000; after the price climbed, when it retraced again, they started shouting that it would fall back to 60,000. The early stage of a bull run is where fear is easiest to trigger—but often it’s exactly this kind of psychology that makes people miss the very first phase, and the best opportunity.