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 2023) lasting 14 days
This current pullback is only the 5th major retrace since the 2022 Bear Market Bottom
All of the pullbacks experienced just over -20% retracement depth
Bitcoin has pulled back -16% thus far
But the retrace began only last Thursday
The current retrace has therefore barely lasted a week
In sum, there are two key takeaways about retracements in this current cycle:
• The closer Bitcoin gets to a -20% retrace, the better the opportunity becomes
• Retraces need time to fully mature (at least 2-3 weeks, at most 2-months)
