Since the November 2022 Bear Market Bottom...
Bitcoin has experienced the following retraces:
• -23% (February 2023) lasting 21 days
• -21% (April/May 2023) lasting 63 days
• -22% (July/September 2023) lasting 63 days
• -21% (January 2024) lasting 14 days
• -18% (March 2024) lasting 7 days
• -18% (April 2024) lasting 11 days if $58,700 was the bottom
Retraces in this cycle oftentimes last 2-3 weeks but on the more rare occasions they lasted even up to 2-months
Generally, there are two key takeaways about retracements in this current cycle:
• The closer Bitcoin gets to a -20% retrace, the better the opportunity becomes
• Most commonly, retraces last only a few weeks before resumed upside