Is It Over or Have We Been In Bear Market For Two Months Already?

I don't put a lot of emphasis on technical analysis, but every once in a while I take a look at the charts.

And often, when I do, depending how I look at things, we can have an either-or scenario, which is not particularly useful.

Let's see.

If we have a look at the weekly chart for bitcoin, the head-and-shoulders formation seems pretty clear.

And by looking at this chart, we see the pull back has been announced for a while and it was hard to end at 40k.

The question I ask myself now, is this over with the completion of the HS formation or will it continue dropping.

Maybe we haven't realized yet, because we are so bullish about things happening on Hive, but bitcoin has been dropping for the past 2 months and halved in dollar value since.

Personally I'm ok with either outcome. But I wish I hadn't been seduced by the prospect of a booming end of year a few months ago, and swap more volatile assets for stable coins when bitcoin failed to convincingly hit another ATH, then started to drop.

I'm still much better protected for a downhill scenario than I was the previous cycle. But things could be better. It's true now we have a whole range of new options we can use during a bear market.

I'm talking about bear market, but that doesn't exclude the possibility that next week will be completely green. That can be a bullish sign or a dead cat bouncing, so be careful if you're trading.