many people think btc will be dropping in price, or that the end of the bull run is over and that we are soon entering another bear market, probably for the next 4 years. well its easy to feel that way especially seeing these weaknesses in the market with bitcoin testing the high of 65 and 66k without been able to break through. But we will be looking at some reasons why bitcoin will not drop drastically in price and why am still bullish on bitcoin.
looking at the figure above, we can see how many times btc has tested the upside but fail to breakthrough from each attempt, forming a down sloppy directional walk which indicated weakness in the market. yes normally, one might think; 'ooh! this shit is going down I have to sell here and get out of position'. yaa! a lots of times it happens, taking people out of good positions, all because they are not well informed and so out of fear they liquidate their hodlings. these are weak hodlers anyway. what if I told you that we are on our way to $100,000 ? what if I told you that this sloppy ranging pattern could be a form or as the result of re-accumulation ? or what if you could just see it as a kind of bull back ? ok lets examine this picture below
can you see the figure above and how the market puled back in a sideway direction.[Retail kids lost money on this]. when the market complete this phase, the market will rise speedily. look at the video analysis so you can further understand where we are headed.