How Bitcoin Acts When Retesting All-Time Highs (15%-30% Volatility, Then Higher)

In 2024 Bitcoin is re-testing all-time highs after a major bear market (70% or greater decline). So far it has been whipsawing the prior high of $69,000, touching it then dropping 15%, then rallying to near $74k and then falling 18%.

This type of movement is quite common. When we look back on prior examples of this situation Bitcoin often whipsaws 15% to 30% for a month or more before ultimately resuming higher. Knowing this can help plan out trades.

This is not a forecast though. It is simply an examination of historical situations similar to the current situation in #bitcoin. Trade according to your own rules, because history may not repeat, and everyone has different goals, time frames for their trades, and risk tolerances.

The following article provides lots of perspectives on how Bitcoin typically moves, including average rally and pullback percentages: https://tradethatswing.com/statistics-on-how-bitcoin-moves-average-rally-and-pullback-percentages-bull-bear-market-durations-and-gains-losses/

Cory Mitchell, CMT
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