Why Is Bitcoin Ranging/Bearish So Much? Here Is What No One Is Saying

9:19 am, Sun, 13 March 22

Current Bitcoin Data

Dominance
Price
Market Cap
Volume (24h)
1h
12h
1d
7d
1m
1y
?

A lot of traders are now believing that Bitcoin has seen its Glory Days, and we can have no new bull run that lasts for months on end like we used to.

However, this belief is very far-fetched, and I can prove it to you.

  • Yes Bitcoin is down more than -50% from its ATHs
  • Yes we have been bearish or trading sideways for more than 10 months now
  • Yes Bitcoin is still going down and might remain bearish for a while longer

But all that changes nothing! And you will find out why in this Bitcoin analysis. You will also find out why we believe institutional traders are trying to shake out weak hands and why we might be coming to the end of this type of market condition soon.

To trade ETH with leverage, sign-up to Bybit right now! Bybit’s BIGGEST Deposit Bonus Campaign is now live! First-time depositors can get up to a $4,100 Bonus when you sign-up and fund your Bybit account with our Bybit link.

Claim up to $30,030 in Bonus

100x Leverage

The Bitcoin Larger Picture

Why Is Bitcoin Ranging/Bearish So Much? Here Is What No One Is Saying. Watch this Bitcoin analysis carried out on the daily timeframe
Why Is Bitcoin Ranging/Bearish So Much? Here Is What No One Is Saying. Watch this Bitcoin analysis carried out on the daily timeframe

While it might seem that we have been in this bearish sell-off for so long, it is important to note that Bitcoin is still in a larger bullish trend! And what we are experiencing right now is the bullish retracement in price before the rally continues.

We have seen this type of price action happen over and over again in all types of asset classes all around the world and Bitcoin will be no different.

Ok, now you are getting convinced that we might still be in a bullish market, your next question might be ‘Why is it taking so long?’.

Well, it is important to understand that we are dealing with a Daily timeframe analysis (i.e: it takes a day for one candle to form).

And when you combine that with the attributes of price retracement we listed below, you will have a better understanding of why it is taking so long to complete and resume buying again.

If We Are Still Bullish, Then Why Is It Taking So Long To Resume Buying?

Why Is Bitcoin Ranging/Bearish So Much? Here Is What No One Is Saying
Why Is Bitcoin Ranging/Bearish So Much? Here Is What No One Is Saying. Watch this Bitcoin analysis carried out on the daily timeframe

Well, the key characteristics of a retracement are:

  • The price movement is slow
  • Very Sluggish
  • And retraces the bullish move with less momentum

All these criteria are currently being met on the Bitcoin Daily Chart. This movement down is slow and has lasted for more than 10 months now retracing only -57%.

During the bull run of last year, that same 10 months timeframe was all it took for Bitcoin to surge more than +900%.

Bitcoin during a bull run. Price surged more than 900% in 10 months

Ok, But When Will This Horrible Market End?

That is where key technical analysis skills come into play. And we can tell you a little secret from experience and past studies.

The secret is: At this Bitcoin key level, there are only two main kinds of retracement patterns that might form in the Daily price chart.

  • The Flat Pattern
  • The Triangle Pattern

We will be breaking down these two patterns, how to spot them, and what the institutional traders are doing to get ready in our next article The Future Of Bitcoin! This Flat Pattern Predicts A Bull Run

But for this article, I can tell you this. If Bitcoin is forming a Flat Pattern, you need to sit up and get ready faster, because this bearish market might be over faster than anyone expected.

Claim up to $30,030 in Bonus

100x Leverage

Easy Steps From Beginner To Pro Crypto Trader

You can speed up your learning journey by reading our How To Trade Bitcoin Guide. This guide is the best for crypto traders who wants to get familiar with the basics of Bitcoin trading. You can also check out our top list of Best Bitcoin Exchanges To Trade With.

PrimeXBT Covesting: Trade Hassel Free

Sign-up on PrimeXBT today to trade Bitcoin hassle-free. You can copy experienced traders and access hundreds of different strategies on the platform! Don’t forget to claim your 25% bonus by using the promo code “bitcoinsensus50” when you sign-up with our link  PrimeXBT Covesting

Recommended Bitcoin Trading Platforms:
★★★★★
★★★★★

Rating: 94%

Claim up to $30,030 in Bonus

100x Leverage

Fees:
Deposit Methods:
Taker:
0.075%
Maker:
-0.025%
Wire:
Credit:
Crypto:
★★★★★
★★★★★

Rating: 89%

Claim up to $4100 in Bonus

100x Leverage

Fees:
Deposit Methods:
Taker:
0.075%
Maker:
-0.025%
Wire:
Credit:
Crypto:
★★★★★
★★★★★

Rating: 91%

Claim up to $7000 in Bonus

100x Leverage

Fees:
Deposit Methods:
Taker:
0.050%
Maker:
0.050%
Wire:
Credit:
Crypto: