Devil's market!
Is it a bull market or a bear market now?
Bitcoin is the weather vane of the entire currency circle. The bull market runs around the Bitcoin halving cycle. Sometimes it starts before the halving, and sometimes it starts after the halving. Bitcoin is halved every four years, and the evolution of the bull-bear cycle is also every four years.
The most obvious point of the bull market is the price. Each wave of rise will break the previous high, and each callback will not break the previous low, which means that the low point of each callback is getting higher and higher.
This is the weekly line of Bitcoin. Bitcoin's bull market is a slow bull. In a normal bull market, there will be a wave of bulls after the bear market ends, but there is no such thing as a slow bull. It starts to rise slowly after the bear market bottoms out.
The attribute of a slow bull is that it rises for a period of time after a wave, and then rises again. The red circle in the figure can be seen that each wave of rise breaks the high point of the previous red circle, and the last red circle breaks the historical high of the previous bull market.
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The blue line in the figure is the low point, starting from $15476. No matter how it pulls back, the low point is rising.
Judging from the volume, the bull market rises with large volume and the pullback shrinks. From the above figure, Bitcoin rose from $15476 to $73777, and experienced several large pullbacks in the middle, but the shorts did not increase in volume every time they pulled back.
The bear market is the opposite. In the bear market, the bulls are shrinking in volume in every rebound, and the shorts are increasing in volume in every decline. The price is also constantly breaking new lows. This can be seen by opening the market and looking at the historical trends in the past.
