Why I’m bearish on CryptoCurrencies till BTC hits 42k again.

Allow me to explain, BTC has had a major push to 69K on 10Th November, since then we’ve been slowly bleeding to as low as 42k.

Sure we had a few pull backs but nothing major, and every time we get a pull back it doesn’t really break any resistance points.

Historically during every dip since may, we get flash crashes but we can also see a retest to those levels before any significant rallys to the upside.

BTC crashed to 30k in May, then retested those levels after two months of crab market, leading to a 29.4k drop before rallying to 50k.

BTC dipped again on launch of El Salvador’s wallet, from 52k to 46.8k, which was again retested 13 days later.

And now we have a 42k wick, but haven’t retested the level yet, which is why I’m expecting a dip to the downside before any significant rallys.

History often doesn’t repeat itself, but it rhymes.

TL;DR: Bearish on BTC till we retest 42k.

Edit: Apparently I’m getting downvoted for having normal conversations, thanks r/cc.