People keep saying bear market but I dont think it is, its an epic pullback but welcome to Bitcoin this is what happens not just once but very often as it is a volatile asset. The main reason we pull back so far is same dynamic as a boiling something over on your stove, it overheats and expands massively with alot of froth; however the underling levels for BTC are far more modest then the highest prices.
So here we are pulling back again, Im not going to say its a bear market just because we wont go up this month maybe not even next month. I think we lost the trend up we just had, its gone unless we regain these current losses before the end of Sunday weekly candle. Patience is key, the lowest prices have far greater confidence to their prices level and often more volume exists in these areas.
Indeed, the market is still healthy despite the huge full back. From $70k down to $32k, that was not enough to call a bear market. It is just how these doubters will think negatively once seeing the downside. This is not new to us but many were still not able to understand as they only know that every drop will lead to bear season and apparently, it was a big mistake and wrong market presumptions.
The market still floating $38k-$41k, corrections have something to offer us and that is giving us a chance to buy more.
