The Dip That Keeps on Dipping

JAN 13, 2022 • 8 Min Read

Jason Pagoulatos + 1 other

DISCLOSURE: MEMBERS OF OUR TEAM MAY HOLD TOKENS MENTIONED IN THIS REPORT, INCLUDING BTC, ETH, NEAR, ATOM, FTM, ONE, GMX, & AVAX. THESE STATEMENTS ARE INTENDED TO DISCLOSE ANY CONFLICT OF INTEREST AND SHOULD NOT BE MISCONSTRUED AS A RECOMMENDATION TO PURCHASE ANY TOKEN. THIS CONTENT IS FOR INFORMATIONAL PURPOSES ONLY AND YOU SHOULD NOT MAKE DECISIONS BASED SOLELY ON IT. THIS IS NOT INVESTMENT ADVICE.

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Welcome to Market Insights, a weekly newsletter focused on markets, macro, and whatever’s top of mind!

The Saga of Market Struggles

In last week’s market commentary, The Aftermath of a Bloody Week, we noted that “when price spends an extended period consolidating with many failed breakout or breakdown attempts, once price successfully breaks the range, you can typically expect some type of continuation in that direction.”

We saw this price action play out over the last week with BTC initially breaking down around 7%, before dropping another ~6% to the downside in the next few sessions, for a total drawdown of ~13% from the previous range lows. It remains to be seen if the low near $39.5K is the local bottom, but price has rebounded nicely off the third level of intere

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Jason Pagoulatos + 1 other