Reversal Expected Soon

Volatility Is Normal and Welcomed

Author

Alpha 12 Team
January 23, 2024

Market Overview:

Since we wrote last week that Bitcoin is no longer in an uptrend, price has gone down by a further 8%.

  • Now, all technical indicators have flipped negative in concert for the first time since September 2023, further solidifying the downtrend.

We believe this is an unsustainable downtrend that is bound for a reversal given the absence of persistent negative fundamental drivers.

  • We further believe we are in a similar market stage as the 2017 bull market, when prices dipped 32% in January before continuing to rise significantly.

BTC price series Dec 2016-March 2017

However, the most important piece of information that you should take with you is this:

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