Cena Satoshi PumpomotoBTC

According to correction ratios in each Bitcoin cycle, a bear market typically sees a 70% drop from the peak down to the main support line, which is the 200-week moving average. This moving average forms the bottom of the bear market and is currently around $50,000 for Bitcoin. Now, calculate the peak price from which a 70% drop would reach the $50,000 level for Bitcoin. Also, it’s possible that the drop percentage may differ in this cycle due to adoption and institutional funds, so calculate using a 60–70% drop as an average down to the 200-week moving average support at $50,000.

#Bitcoin Options Open Interest Surges to Record $50B on Deribit as Traders Hedge Downside Risks

$BTC In terms of general structure, I don't think something like this should be out of the question. Reclaim 123,250 at any stage to invalidate, but prior to that (especially if we keep printing ranging/corrective price action) I think this is a very viable scenario - and one that would present a great buying opportunity for a move higher into 135k. Or at the very least a dead cat bounce if the cycle is over (I don't think it is). Higher low into 80-90k then rip it to 135k and higher if it wants to. I did initially want to give an under/over reclaim of the 107k level more of a chance - but so far price just isn't showing too much willingness to go higher and form impulsive price action that convinces me the bottom is in. Is what it is - until it isn't.

🚨A Bitcoiner who lost access to his $BTC has regained it 7.5 years later, after a technical wrangle. It may not be a massive amount - but ANY Bitcoin is better than No Bitcoin!