Quote from: borovichok on Today at 08:27:19 PM

Quote from: KingsDen on Today at 08:11:36 PM

By now, everyone should just be aware that bitcoin moves cyclically. It moves in upwards and downwards direction. We should not expect bitcoin to move in just one direction (upwards) only.
When everyone comes to this understanding, we will surely appreciate the essence of correction of prices in bitcoin. If bitcoin does not retrace, it will not have enough strength to make another bullish movement.

Movement in one direction is not a fact about bitcoin, it's popularly known for moving in different directions. The movement of Bitcoin is genuinely unpredictable and volatile, so we should exercise caution because nobody wants to experience trading losses. Retracement is possible considering the bear season is still in effect. Everyone has a unique perspective on the Bitcoin chart; various people have different viewpoints. The bitcoin chart indicated that it will undoubtedly decline, but since there are significant zones of support and resistance, I'm expecting that it will retest these levels and change to an uptrend.

Nice analysis. When you said bitcoin retest these levels, what level do you mean. Do you mean that bitcoin may touch $16k again and the reverse to upward trend. If not so, at what point do you think that bitcoin will revert to upward trend.

Moreso, I have seen were people are skeptical if bitcoin will move upwards from here or I will retrace, just like I asked above. But I personally do not think that a buy at this level is a bad decision.