Previous bear markets have seen Bitcoin undergo the following corrections:
🔹 2014: a drop of 87% 🔹 2018: a drop of 84% 🔹 2022: a drop of 77%
📊 Assuming $126k was the peak of this cycle, the $49k zone represents a correction of about 61%, which is a key level that price may target according to technical analysis.
⚠️ However, we can't rule out a deeper drop towards $33k, especially if selling pressure persists and fears in the markets increase.
🔥 The $49k zone is also expected to experience sharp volatility and attempts at manipulation from major players before the next main trend forms.
📝 This analysis is based solely on historical market behavior from a technical standpoint, while fundamental, economic, and geopolitical events remain capable of completely changing the landscape.
📉 As of now, the overall trend is still bearish, and caution remains the best strategy until clear signals of a strong bullish reversal appear.
💬 In your opinion, will the $49k zone be the true bottom for Bitcoin, or could the market surprise everyone with lower levels? 👀📊🔥
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🔹 2014: a drop of 87% 🔹 2018: a drop of 84% 🔹 2022: a drop of 77%
📊 Assuming $126k was the peak of this cycle, the $49k zone represents a correction of about 61%, which is a key level that price may target according to technical analysis.
⚠️ However, we can't rule out a deeper drop towards $33k, especially if selling pressure persists and fears in the markets increase.
🔥 The $49k zone is also expected to experience sharp volatility and attempts at manipulation from major players before the next main trend forms.
📝 This analysis is based solely on historical market behavior from a technical standpoint, while fundamental, economic, and geopolitical events remain capable of completely changing the landscape.
📉 As of now, the overall trend is still bearish, and caution remains the best strategy until clear signals of a strong bullish reversal appear.
💬 In your opinion, will the $49k zone be the true bottom for Bitcoin, or could the market surprise everyone with lower levels? 👀📊🔥
$