bt-crow.com
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Cryptocurrency analyst TechDev believes that despite the recent pullback, Bitcoin is not in a bear market. As you know, the BTC rate fell to the levels of September 2021
According to the analyst, BTC is still in a long correctional phase, however, he stressed that the correction period is nearing completion and the asset is preparing to start the next phase of its cycle:
“For me, the most likely outcome is another upward impulse. Only then will a downtrend begin, which will become a real bear market. There is another possible scenario – a quick surrender to the level of the bottom of the correction. So, in my opinion, we are either at the beginning of the last upward impulse, or at the bottom of the so-called “bear market” that has been going on since February.
In any case, for more than a year, I have not seen an impulsive downtrend starting after a corrective trend that has already been going on for a year. Impulse / corrective speculative markets don’t work that way. “
The analyst believes that Bitcoin is ready for another large-scale rally, which may happen in the first half of this year, although there is no 100% guarantee:
“According to my data, bitcoin has at least one upward impulse, and the asset itself has been correcting / consolidating since February 2021. I have a plan for any scenario, but nothing has been defined yet. “
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