Why Bitcoin Could Retrace More Than Most Expect

This would be only a 78% retrace which is short of the typical 80+% bear market retraces. Bitcoin would retrace back to the yearly close that caused the bear market before the bull market was confirmed. $14K would be closer to the bottom. It also would keep the idea of a wave four ending into a wave five final impulse alive, much like 2013 – which was a similar retrace.