KuCoin Token | When Will The Bear Market End?Like most of the Cryptocurrency market, KuCoin Token (KCSUSDT) has been moving within a strong downtrend, the bear market.
This downtrend/bear market is getting closer to its end but for KuCoin Token it can extend... Let's have a closer look.
The bull market lasted 511 days and started after the early July 2020 low.
Here we are counting as bull market every single day after the low was set.
The bear market has been going for 357 days.
Again, we are counting the declining from the ATH to the current day.
Looking at other major Altcoins chart this pattern came-in in-reverse.
They have a bullish wave of 333 days or so, while the bearish wave went on for more than 555 days.
The last shall be first, and the first shall will be last.
Right now KCSUSDT is trading at support.
The 0.786 Fib. retracement level of the entire bullish cycle and MA200 on the weekly timeframe.
There can be a bounce here but the bear market isn't likely to be over.
So far we have a drop of 80% (-80%) from the All Time High but we've seen KCS correct by 98%.
The chart structure allows for more red in the months to come, with 1 relief rally in-between before we set the bear market bottom/low.
The same as Bitcoin and other major crypto-charts.
We have room for some relief, short-lived...
Then one more major drop, CRASH, followed by slow and steady growth... Sustained long-term, up, up, up, up and up... But remember, any bullish action now can be taken as a break only, the worst is yet to come.
After we hit bottom, the only place left to go is up.
Up to $50, $60, $90, $120, $150 or more.
Namaste.
