Bitcoin's Price Action: A Crucial Range in Focus

Cryptocurrency market trends are often difficult to predict, but analyst Axel's latest report sheds some light on Bitcoin's current price action. According to the analysis, the current Bitcoin retracement is significantly smaller than in 2017-18 (-64.3%) and the same period in 2021-22.

The mild scenario of 2013-15, where price action was similar, does not confirm that the bottom has been formed yet. The market structure remains somewhat neutral as long as the current range holds or if the price can quickly recover after a brief dip below.