Month: November 2022

60-day cycle low is in and the second  will be due in early January; right in the timing of the 4-year cycle. No catalyst, no momentum as every trust is broken and so, many big players have left the scene. In a market where crypto HODLers are on the edge of their seats, you cannot tell where the market is heading.... but we are in the process of bottom forming.

Bitcoin was able to avoid further losses over the weekend, despite the sentiment across the cryptocurrency market remaining unpleasant. It has mostly traded around that $17,000, with a few unsuccessful attempts to overcome it. The last such occasion came on Friday, but the bears stopped bitcoin in its tracks.

Bitcoin is yet to make a decisive move in either direction, as the price has been trapped in a very tight range for weeks. However, the consolidation period could be coming to an end soon as it appears the market is going through a calm-before-the-storm scenario.