The crypto market for a period seemed to be on a bear market,and for some reason much later prices started increasing again.What can be said about the market at this period,are we on a bull or bear?
The June top was a potential inflection point. The answer is not clear yet. How the current pattern unfolds will define whether the rally since December 2018 constituted a new bull market, or whether it was just a bull trap in a long term secular bear market.
My bet, based on historical metrics and the rally's impulsive behavior, is we're in a new bull market. If I'm wrong, I believe xxxx123abcxxxx is correct when he says:
A retracement to the Fibonacci 88.6% level is the first warning signal to suggest the bull market may be over.
A decline to the 06-FEB-2019 low confirms the bull market is over.
Meaning we could potentially decline to the $5,000s and still comfortably be a in a bull market.