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Since the November 2022 Bear Market Bottom...

Bitcoin has experienced the following retraces:

• -23% (February 2023) lasting 21 days

• -21% (April/May 2023) lasting 63 days

• -22% (July/September 2023) lasting 63 days

• -21% (January 2023) lasting 14 days

This current pullback is only the 5th major retrace since the 2022 Bear Market Bottom

All of the pullbacks experienced just over -20% retracement depth

Bitcoin has pulled back -16% thus far

But the retrace began only last Thursday

The current retrace has therefore barely lasted a week

In sum, there are two key takeaways about retracements in this current cycle:

• The closer Bitcoin gets to a -20% retrace, the better the opportunity becomes

• Retraces need time to fully mature (at least 2-3 weeks, at most 2-months)

#BTC #retracement #OpportunityKnocks $BTC $ETH $BNB