How are you? By Allah's grace, I'm doing very well. Today we are trying to understand technically whether a bullrun is coming or not. For this we need to go into the Bitcoin chart.

If you come to the long time frame of Bitcoin, that is, the daily or weekly time frame, then you will notice a very nice thing here, that is, the price of Bitcoin is still in the uptrend. Those who understand technical analysis even a little can clearly understand that Bitcoin first pumped, then corrected, then pumped again, and corrected again. So it is very natural that the price of Bitcoin will pump after this correction, but if the price of Bitcoin cannot reverse, then it will break the current level and move downwards. And if this happens, then we can say that the character of the market has changed or if we say in the language of SMC, it will indicate a changing of character. But if the price of Bitcoin supports this trendline and the price reverses again and starts moving upwards from here, then the price of Bitcoin can create an all-time high again.

We can tell that a bear market has started or a bullrun will not come when such a structure starts in the market. That is, the price of Bitcoin dropped, then rose again and dropped again, and here there was a support level, the support level broke and moved down, then rose again from here a little, then dropped again, and then it can be confirmed that the downtrend has started. But I currently do not see any such structure, which means that a bullrun will come this year.

If we go back to the price of Bitcoin, that is, when the previous bullrun started in 2020-21, then in that timeline, we can actually notice one thing that in 2021, when the price of Bitcoin pumped up to $65,000, everyone thought that the bullrun had started in the crypto market, but immediately after that, you could see that the price of Bitcoin dropped by 55%. So just imagine that now, with the price of Bitcoin down by just 30%, our situation has become very bad and we have assumed that the bullrun may not start in the crypto market. But here you see, the same story happened in 2021 and those who survived in the market even during this downtrend later made the right use of the uptrend. So we have to hold.

Today's discussion concludes here. I hope you've found it interesting. Please share your thoughts on today's topic. Prayers for everyone. May everyone be well. Amen.