A lot of fans have been asking: Is the bear market over yet?
I have to say: We are still in the later stages of the bear market, my previous assessment stands.
Why do I say this?
The duration of each bull and bear cycle doesn’t vary too much; it typically takes about 12 months from the peak of a bull market to the bottom of a bear market, and we’re not there yet. The consolidation at the bottom hasn’t been sufficient.
The decline from the peak hasn’t been steep enough. Previous bear market retracements were 94%, 86%, 84%, and 78%. Right now, the lowest point has only retraced around 50%.
I previously estimated the bottom to be around October, but the current trend resembles the movements from August 2022. If that’s the case, we might see the bottom hit earlier, around July or August. This needs further observation.
The bearish trend remains, and it’s unrelated to short-term fluctuations.
Earlier, when we were near 81000, I advised fans to short, and that was based on solid reasoning.
#币安推出美股交易 #lab #hype #zec #wld
I have to say: We are still in the later stages of the bear market, my previous assessment stands.
Why do I say this?
The duration of each bull and bear cycle doesn’t vary too much; it typically takes about 12 months from the peak of a bull market to the bottom of a bear market, and we’re not there yet. The consolidation at the bottom hasn’t been sufficient.
The decline from the peak hasn’t been steep enough. Previous bear market retracements were 94%, 86%, 84%, and 78%. Right now, the lowest point has only retraced around 50%.
I previously estimated the bottom to be around October, but the current trend resembles the movements from August 2022. If that’s the case, we might see the bottom hit earlier, around July or August. This needs further observation.
The bearish trend remains, and it’s unrelated to short-term fluctuations.
Earlier, when we were near 81000, I advised fans to short, and that was based on solid reasoning.
#币安推出美股交易 #lab #hype #zec #wld