Post
Topic
Board Trading Discussion
Re: Accumulation phase is out!?
by
Oceat
on 18/12/2022, 17:03:58 UTC
I believe 10K is the strongest support because it’s a round number and the typical psychological analysis when finding strong support since the known one is already broken.
Whatever the people will say it's still a speculation but if ever $10k is the final bottom then how long does this market has to suffer from the bearish trend? It's quite too deep if you'd ask me about that price but considering that Bitcoin's bottom before the bull run last time was at $3k, so it's possible that $10k would be the strongest support.

Base on previous data, we might experience again long crypto winter that is longer than 6 months like what you are suggesting.
It's been over 6 months now and the market isn't having a plan to move up yet then it's also possible that this bearish trend will continue next year until it hits the bottom. We don't actually know what is the bottom but I hope you are right that it would stick to the $10k as a support.

To OP: Accumulation phase isn't out yet when the market is just like this.