There is no doubt it was a brutal few days for the crypto market. On the bright side, the long term Bitcoin trend is still up.
Medium term is at the crossroads. There is a chance for the bulls to get back on track. If the price holds at this levels and slowly moves higher, we may see another bull run. I wouldn’t expect this anytime soon but crypto is unpredictable. The critical level to watch is 30K. If price breaks it, we will see another major sell off.
The short term trend is down and it will stay down for some time. It took almost a full two month, in the summer 2021, for the market to recover. I would expect a similar pattern to repeat but there are many factors that may affect this. Will the price hold above 30K ?
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