Will the price reach $30k or drop down to $14k?

• LookIntoBitcoin creator, Philip Swift, has predicted that the 2022 bear market could continue until the end of the year.
• There have been several characteristic fakeout events in the week following US economic data with Bitcoin returning to its original position.

Bitcoin is currently trading at $19,273 after registering a 24-hour positive move of 0.47 percent. While investors are caught up in decision challenges over whether the asset can break key resistance levels to reach $30k or break support levels at $14k, analysts have observed that volatility was prolonged. Bitcoin barely moved after-hours over the weekend.

There have been several characteristic fakeout events in the week following US economic data with Bitcoin returning to its original position. The asset has shown no signs of leaving the range according to Cointelegraph Markets Pro and TradingView data.

According to Michaël van de Poppe, founder and CEO of trading platform Eight, the majority of community members believe that the downside may continue in the crypto market, but the odds of upward momentum have increased.

Question of time before massive volatility hits the markets, after four months of consolidation.

Another popular crypto trader, pseudonym il Capo of Crypto, has also predicted that Bitcoin may continue its downside, but may witness a $21k trade price in a bear market rally. According to them, capitulation would happen, but not yet.

Bitcoin bear market could continue until the end of the year – Philip Swift

Analysts have also observed an ongoing correlation with the stock market, as Nicolas Merten, founder of the YouTube channel DataDash believes there is “more pain to come.”

It is important to note that the Nasdaq Composite Index is experiencing a weekly close below its 200-period moving average, the first time in fourteen years. This has been compared to the dotcom crash and the global financial crisis of 2008.

#bitcoin has never lived through anything like this, so expect a lot more pain.

LookIntoBitcoin creator, Philip Swift has also predicted that the 2022 bear market could continue until the end of the year. He stated that several key figures on LookIntoBitcoin indicate that the market is at a cyclical low. Swift revealed that the percentage of long-term owners has peaked (1 year HODL Wave). Metrics such as the RHODL Ratio have also dipped into accumulation zones, indicating the extent to which euphoria has been drained from the market.

A popular Twitter trader identified as Alan has revealed that the current market trend is mimicking the previous cycles. While reviewing the BTC/USD one-month stochastic chart, Alan observed that Bitcoin is repeating the bearish structure of 2014 and 2018.

Bitcoin forms a flag over the previous flag configuration. Yellow zone from Stochastic indicator shows (at least) the second half of the flag, where we are right now.

According to him, a quick return always follows a dip.