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2022 BTC Bear Market Mirrors 2019, Distribution Zone Identified

Bitcoin price was last seen at $26,986, a 24-hr drop of 12.7%.According to a crypto analyst, Bitcoin price is in a distribution phase.The distribution zone is between $37,600 to...
2022 BTC Bear Market Mirrors 2019, Distribution Zone Identified © Reuters. 2022 BTC Bear Market Mirrors 2019, Distribution Zone Identified

    • Bitcoin price was last seen at $26,986, a 24-hr drop of 12.7%.
    • According to a crypto analyst, Bitcoin price is in a distribution phase.
    • The distribution zone is between $37,600 to $21,750.

The crypto market is currently experiencing the worst since the pre-pandemic bull run of 2020, which was also the year that Bitcoin shattered its all-time high (ATH) of $20,000. Now, the situation appears to have turned upside-down, with Bitcoin price falling headfirst to $26,986, as per CoinGecko.

The last time Bitcoin touched $27,000 was in December 2020 (source: TradingView)

As seen on the chart above, Bitcoin never touched $27,000 during the entire bull run of 2021. Even during its accumulation phase from May to August, Bitcoin remained above $28,000. So, for Bitcoin to touch as low as $26,900 today, there has to be a massive exodus of bullish positions beyond comprehension.

However, one trader with the Twitter (NYSE:TWTR) handle @Nebraskangooner attempted to make sense of what is happening. Also known as ‘Gooner’, he is an advisor for PrimeXBT and a content partner of Bitget.

According to Gooner, Bitcoin price is now in a distribution phase. For the sake of the uninitiated, the distribution phase is the opposite of accumulation. This is the stage where holders are exiting their position to salvage whatever value they can extract from their assets. In short, a lot of people are selling bitcoins, including whales and some long-term holders.

Gooner also compared the 2022 bear market to 2019, claiming that the former is identical to the latter. Should his observation become true, then $37,600 until $21,750 is the distribution zone. If this happens, then Bitcoin has a possibility of dropping in price to $21,000.

The bright side is that $21,000 is the accumulation phase, which is where the market is predicted to be dominated by buyers who believe they are buying BTC at a discounted price.

If Gooner is correct, then it means one thing: the price of Bitcoin will continue to worsen in the coming weeks before it gradually improves.

Continue reading on CoinQuora

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27-05-2022 13:44:33 (UTC+7)

EUR/USD

1.0744

+0.0020 (+0.19%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

EUR/USD

1.0744

+0.0020 (+0.19%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

GBP/USD

1.2623

+0.0029 (+0.23%)

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↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

USD/JPY

126.97

-0.17 (-0.13%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (2)

AUD/USD

0.7128

+0.0029 (+0.42%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (6)

USD/CAD

1.2761

-0.0010 (-0.08%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

EUR/JPY

136.43

+0.09 (+0.07%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (2)

Sell (7)

EUR/CHF

1.0302

+0.0014 (+0.14%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (3)

Sell (4)

Gold Futures

1,852.31

+4.71 (+0.25%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (4)

Sell (1)

Silver Futures

22.106

+0.141 (+0.64%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (1)

Sell (6)

Copper Futures

4.2765

+0.0033 (+0.08%)

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↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (5)

Crude Oil WTI Futures

113.75

-0.34 (-0.30%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Brent Oil Futures

113.83

-0.34 (-0.30%)

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↑ Sell

Moving Avg:

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Sell (12)

Indicators:

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Sell (8)

Natural Gas Futures

8.826

+0.017 (+0.19%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (7)

US Coffee C Futures

225.78

+8.73 (+4.02%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (7)

Euro Stoxx 50

3,740.31

+92.75 (+2.54%)

Summary

Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (2)

Sell (5)

S&P 500

4,057.84

+79.11 (+1.99%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

DAX

14,231.29

+223.36 (+1.59%)

Summary

↑ Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (1)

Sell (6)

FTSE 100

7,564.92

+42.17 (+0.56%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (1)

Sell (6)

Hang Seng

20,559.50

+443.30 (+2.20%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (6)

US Small Cap 2000

1,838.24

+39.07 (+2.17%)

Summary

Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (5)

Sell (5)

IBEX 35

8,888.80

+128.60 (+1.47%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (7)

BASF SE NA O.N.

50.790

+1.325 (+2.68%)

Summary

Neutral

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (1)

Sell (4)

Bayer AG NA

65.90

+2.12 (+3.32%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (5)

Sell (3)

Allianz SE VNA O.N.

198.80

+1.32 (+0.67%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Adidas AG

176.76

+4.68 (+2.72%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

Deutsche Lufthansa AG

6.850

+0.073 (+1.08%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (5)

Sell (1)

Siemens AG Class N

118.52

+3.70 (+3.22%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

Deutsche Bank AG

10.414

+0.158 (+1.54%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (8)

Sell (0)

 EUR/USD1.0744↑ Sell
 GBP/USD1.2623↑ Sell
 USD/JPY126.97↑ Buy
 AUD/USD0.7128Sell
 USD/CAD1.2761↑ Buy
 EUR/JPY136.43Sell
 EUR/CHF1.0302Neutral
 Gold1,852.31Neutral
 Silver22.106↑ Sell
 Copper4.2765↑ Sell
 Crude Oil WTI113.75↑ Sell
 Brent Oil113.83↑ Sell
 Natural Gas8.826Sell
 US Coffee C225.78↑ Sell
 Euro Stoxx 503,740.31Sell
 S&P 5004,057.84↑ Sell
 DAX14,231.29↑ Sell
 FTSE 1007,564.92↑ Sell
 Hang Seng20,559.50↑ Sell
 Small Cap 20001,838.24Buy
 IBEX 358,888.80↑ Sell
 BASF50.790Neutral
 Bayer65.90↑ Buy
 Allianz198.80↑ Buy
 Adidas176.76↑ Buy
 Lufthansa6.850↑ Buy
 Siemens AG118.52↑ Buy
 Deutsche Bank AG10.414↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,830/ 6,940
(10/ 20) # 1,729
SJC HCM6,840/ 6,940
(10/ 10) # 1,729
SJC Hanoi6,840/ 6,942
(10/ 10) # 1,731
SJC Danang6,840/ 6,942
(10/ 10) # 1,731
SJC Nhatrang6,840/ 6,942
(10/ 10) # 1,731
SJC Cantho6,840/ 6,942
(10/ 10) # 1,731
Cập nhật 27-05-2022 13:44:36
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RON 95-V31.25031.870
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E5 RON 92-II29.63030.220
DO 0.05S25.55026.060
DO 0,001S-V26.35026.870
Dầu hỏa 2-K24.40024.880
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WTI$112.84+0.140.13%
Brent$114.01+0.430.37%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.030,0023.340,00
EUR24.263,1125.622,23
GBP28.523,9629.740,84
JPY177,60188,03
KRW15,9119,38
Cập nhật lúc 13:36:36 27/05/2022
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