How big is this wave of retracement? How long will the retracement last?
Referring to the halftime break of the 21-year bull market (519), Bitcoin retreated by about 55%, bottomed out from mid-May to June 21, and bottomed out again in mid-July. The overall retracement time was 2 months, and then the second half of the bull market began.
But after June 21, the game currencies that were in the hot sector at the time no longer followed Bitcoin's second decline, but started the second half of the market in advance.
The retracement of this wave of market in 24 years is currently around 20%. It has been less than 28 days since the beginning of April.
So from the perspective of time, it is still not enough at present, but from the perspective of amplitude, I think it is difficult for BTC to break a new low, because the first half of the last round of bull market rose a lot, so the retracement was also deep, but this round is not the case. The increase is relatively small, so the retracement is also relatively small. The only thing that can end the retracement is time. Wait slowly, don't rush.
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