Welcome to Bear Market...

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
I welcome you to crypto bear market where you will taste what real blood feels like. Longer term i am bullish on btc but top of this cycle is in.
If you think bitcoin will break its ATH any time soon (which most of you guys think) then this will be hard on you.
Now the real question is "Will it last for 1 or 2 years ? or Will it be shorter say 5-6 months ?". I guess time will tell.
RSI was at 97 at ATH and just like last top confirming that this was the top.
Red boxes are showing the Accumulation Phase before next cycle. As you can see i draw three FIB retracement from bottom to each top. The accumulation phase was every time around 78 fib. So the accumulation phase for start of new cycle should be around 4k. price can go below that but it will form base around 4k-4.5k. I think every body will be waiting to BTFD at 3k-3.2k so why not pull the trigger at 4k.

AND finally its not a finacial advice and this idea can be full of S#!%... and any suggestion & view are welcome.

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.