Not If, WHEN - BTC's First Pullback Sets the Tone for this Bull Run
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In today’s video, we take a deep dive into Bitcoin’s current bull run and explore the potential for a significant pullback. With Bitcoin nearing new highs and an extended overbought streak on the RSI, it’s time to consider what a pullback might look like and how it could shape the rest of this bull cycle. Drawing on insights from past bull markets in 2017 and 2020, I discuss why the first major pullback sets the tone for corrections throughout the entire cycle.
We start by looking at Bitcoin's price action in historical bull runs, analyzing past pullback percentages and what they tell us about potential corrections in the current cycle. Historically, initial pullbacks have dictated future market behavior, with past corrections ranging from 17% to 40% depending on market conditions. I also touch on trading psychology and why understanding human behavior—like recognizing patterns and expectations—can help us better navigate these volatile periods.
Next, I dive into why I’m expecting an 18% pullback in the near term and how CME gaps could play a role in where Bitcoin might retrace to. I explain the significance of the CME gap at $77,000, and why this gap is likely to be filled as Bitcoin matures and sees increasing volume and institutional interest. Despite the high likelihood of a pullback, this video outlines why I remain bullish overall, with my eyes on $176,000 as a potential target for this cycle.
Whether you're a trader or an investor, understanding when and how pullbacks occur is crucial to staying profitable in the crypto market. Subscribe to stay informed about upcoming market moves and get the latest insights on navigating this bull run!
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🔔 Disclaimer: The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial, legal, or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.