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2018 Bitcoin Repeat

The year 2018 seems to be repeating itself!

Whether it's "all years again" or just almost, anyone who has spent more time with chart analysis will notice that similar events recur. These are sought with the help of formations, templates like Gann, or signals generated from a series of indicators. However, these events rarely run 100% the same, and one of these rare formations was seen on April 1st.

In our last analysis, we weighed which probability is higher, the continuation of the bull run towards $100,000 or another bearish step downwards.

Today, we look at the two different scenarios of a bear market to prepare ourselves for the various price levels of Bitcoin.

Overall, we are moving closer to the trend reversal stretching from June 1st to 8th. Subordinately, supports emerge at a quadrant boundary of $35,600, which we have already broken, and the outer ring of the highly volatile area at $32,339, which is just being approached.

The next quadrant boundary and support fan are at $26,928 and $23,477, respectively.

Should there be a strong sell-off similar to March 2020 during the trend reversal, we must focus on the next lower highly volatile area. This starts from $17,722 to $15,423 with the outer support ring.

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