Comparing Bitcoins Lastest Corrections... $300,000 Already? WAIT

Bitcoin managed to break records last year setting first an ATH in April and a new one in November 2021... Let's compare the correction that followed after each.

Back after April's 2021 peak price, Bitcoin's correction latest 97 days from the top to the last low before the bullish wave.

Currently, Bitcoin has corrected for 106 days since Novembers peak price until the most recent (yesterday's) low.

We have a higher low Jan/Feb '22 vs Jun/Jul '21.

Back in 2021 the RSI hit oversold.
Now in 2022 the RSI also hit oversold but lower, printing hidden bullish divergence... A relief rally can easily show up.

Last, we have a major down trend-line broken, this also happened before.

Now, if it bounces, how far up can it go?

I am looking first at $41,500 at EMA50 of course but the $44,444 at EMA100 also looks good and finally $50,000 on MA200...

We don't want to be blinded by the bears and miss the fun.

What do you say?

It is too early to be calling for $300K!

Bitcoin remains trading daily below EMA10;
The RSI below 50 and the MACD on the bearish zone as I mentioned before.

Will you trade or will you wait?

Share in the comments below!

Namaste.

Comment:

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