due to low volume I hope you guys don't mind a crosspost from here: https://bitcointalksearch.org/topic/m.2084624
to enter a bear market we need a lower low. Depending on timeframe there are 2 potential lows to break:
if we don't make a new low below $80, it's not a bear market but a correction (by investopedia definitions quoted further above). We could then enter a bull market or at least further consolodation pattern (green). Of course there's different options for "green", I just outlined roughly one of them. A break of the $170 top would clearly mean we're in a bull market again (both higher highs and higher lows would've been reached then)
I don't think we have to wait more than a month to see this resolved.
to enter a bear market we need a lower low. Depending on timeframe there are 2 potential lows to break:
- the $80 low on 5/3 (red)
- the $50 low on 4/16 (yellow)
if we don't make a new low below $80, it's not a bear market but a correction (by investopedia definitions quoted further above). We could then enter a bull market or at least further consolodation pattern (green). Of course there's different options for "green", I just outlined roughly one of them. A break of the $170 top would clearly mean we're in a bull market again (both higher highs and higher lows would've been reached then)
I don't think we have to wait more than a month to see this resolved.
Hat tip to molecular. Green arrow scenario underway...
