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$BTC Bitcoin: I accept only a 2022 repeat, nothing else is possible
The move that started November 2024 was removed by more than 100%. Bitcoin moved as low as October 2024 in the recent correction. Why lower?
We think of lower only because we are looking at Bitcoin in 2026, and we are conditioned to belief that a bear market, a long-term correction, should unfold in certain specific ways, the exact same as 2022.
If we were looking at a different asset from a different market, a 100% correction would be enough to produce a pause. From this pause, we can say that the market can develop in any direction.
Bitcoin pierced the November and April 2021 all-time high price. And also challenged the 2024 long-term consolidation range. After three weeks struggling around support, you can now see a full green candle.
This same support range launched a move from $60,000 to $126,000. This same support zone can repeat the same. In fact, the next high can be higher than before because... Bitcoin is better now, market conditions are better now, the entire market went through a full reset, a full flush.
These are only some of the signals that support strong bullish action. The test and confirmation of support.
If Bitcoin fails to move higher, say, no higher high in the coming months, then it would be easy to see another challenge of support. The retest of support doesn't necessarily mean that it will break.
A weak high does improve the odds of a lower low in the future, if Bitcoin peaks below $98,000... But, what if Bitcoin hits $110,000 or even $120,000? What now? Would you still say that it must crash below $60,000 just because?
If we get a strong bullish wave, you will also agree that there is no need for lower prices. Next, we are going up.
It is wise to keep an open mind, it makes it harder for the market manipulators to play their game. If everybody remains locked in the same mentality, then it is too easy for the exchanges to take our money away. Let's keep an open mind, it does for a healthier market. You won't be hurt by being prepared.