With price dropping today from $30K to around $29K, are you worried there will be a deeper correction, or return to bear market, or is this just the short-term correction before re-testing $30K?
Not really. I am concerned about the long term. These fluctuations, although they entertain me, don't worry me that much. I see the drop as part of normal volatility and I don't see any special reason for it.
Personally I think $28K level is likely to act as strong support, due to the 3 weeks of consolidation/accumulation that occurred recently. Otherwise below this level I think a re-test of the 200 WMA around $26K, as well as $25K becomes increasingly likely. The 200 Day MA however continues to rise from $20K, now above $21K, with major consolidation/accumulation zone currently priced at around $23K.
I wouldn't rule out dips to around $25K or so, as you say, but I think the worst of the bear market is over and I highly doubt we'll see $20K again. I think the underlying trend is going to be up. With less and less time left for halving I think the macroeconomic situation is out of its worst moment too.
Lol, I voted "no" and I see that 100% (out of 9) we voted the same.