The current price action closely mirrors Q1 and Q2 of 2022, which marked the beginning of the bear market.
Back then, we saw very similar price action at the beginning of a bear market: a strong rejection from the ATH, followed by several months of ranging. Price revisited the highs around $45,800, where most retail stops were taken. That creates the ideal environment for market makers and large players to push price lower, they always want as few people as possible positioned in the right direction.
Now we’re seeing something similar again: a quick move up to $94,700 to take liquidity, follow