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One of the most positive things about this current pullback is that this same type of retrace took place at this same moment in the cycle in both 2017 and 2021
In both 2017 and 2021, each of those retraces preceded upside to new All Time Highs
$BTC #Crypto #Bitcoin
18.8. klo 04.26
#BTC
At this moment in the cycle, Bitcoin started pullbacks in 2017 and 2021
In 2017, it was a 1-week retrace that was -29% deep
In 2021, it was a 3-week retrace that was -25% deep
Each of these were shallower and quicker compared to previous retraces in their respective cycles
And the shallow and quick nature of each of these retraces were key technical ingredients to preceding strong upside in the respective uptrends that followed
Should Bitcoin indeed start a retrace now, a shallower and quicker retrace would not just align with historical cycles...
But also represent key technical ingredients to setting up a strong, final Price Discovery Uptrend 3
$BTC #Crypto #Bitcoin
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