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All moments › Why Most New Traders Fail (A 20-Year Pro Explains) | ft. Will Hunting

50% retracement is key support level; current drop 50-55% from high fits historical pattern perfectly.

From Why Most New Traders Fail (A 20-Year Pro Explains) | ft. Will Hunting · jumps to 12:02 · speech

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It tends to be around about the 50% mark, right? That whenever Bitcoin halves in price, then you do start seeing a lot of flows into Bitcoin. And you know, there always ends up being a pretty good chance that there's going to be, if not the beginning of a new trend, at least you'll be positioned on the right side of some element of corrective move, right? And this time, actually, it's not been that much different. The drop that we've had from the previous high has been around about 50-55% to the low, right? So about 55% to the low. So your 50% mark is somewhere around there. And like I said, if you went back and you kind of back tested and you said, well, you know, in a bear market, when prices are falling, how much do they tend to fall before you get a correction, you'll see it tends to be about 50% them as a correction, then another 50% and it's a correction and another 50% and a correction. And when it's rallying, it tends to be 100% moving on a correction, 100% move a correction, 100% move and correction, right? So as far as some element of support being anticipated, I think from a technical perspective, it was kind of perfectly fair to be
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