Bitcoin - Bear market comparisons

15 thg 3, 2022

A comparison of the current bear market, on the left, to the 2018 bear market, on the right, demonstrates numerous similarities while being of distinctly different character.

Similarities include:

• The bearish crossing of the shorter period MAs below the 200MA;
  
• The strike below the 0.382 Fibonacci level;
  
• The declining channel and significance of its centre line; and
  
• The intermediate Bullish MACD divergence.
  

However, the structure of the correction is different, as is its apparent duration. With the 0.382 level already tested, I would not be surprised to see some consolidation around the 35.6k range before a final capitulation.