Some On-Chain Data Shows That BTC Is Approaching Bottom?

After recovering from a low of $17,600, BTC is now moving sideways in a range of $20,000 – $22,000.

The Fear & Greed Index increased slightly to 12. This shows that although there has been some improvement, the market is still very scared.

WAVES/USDT

WAVES hit the pattern ceiling several times and bounced back strongly to downside ⬇️, the pattern ceiling is considered a very strong resistance.
Wait and do not rush to open the position until the price goes out of pattern.

Incoming recession -> Depression ?

Liquidity is the single most crucial aspect in maintaining a healthy market.

During times of apprehension, such as recessions, inflation, and wars. When liquidity is out, we get a bear market.

As a result, don't FOMO into positions; instead, take your time. In an hour candle, we will not reverse.

Losses are a part. Good if you can escape with minimum losses, great if you learn your lesson too with the escape.

Bear or Bull mkt, only long term investors get the best out of the it, because no one has ever invested for the long term and failed before.

After ups& downs it's better to realize soon that it's a marathon, not a sprint! Its all about that longterm vision.

$BTC UPDATE

Realized Price at $23.2K

Fibonacci Level 0.382 at $21K

Historically, these support levels have proved to be great buying opportunities.

Nearly half a billion liquidations today. Feels like the great crypto crash of 2018.

$ETH/USDT Bear & Bull Cycle

$ETH Bottom could be $440-$760.

Bottom may hit in November-December.

Positives to take : Next Bull Run for Ethereum will be Massive.

Last year during November, majority influencers/traders were calling for $100k BTC.

Today majority is calling for $13k or below. Most often in the market, majority can't be right.

I will be surprised if Bitcoin goes below 20k for any significant period of time. My contrarian brain says it's time to starting accumulating in small quantities and keep buying for the next few months or so.