When the December 31, 2021 candle came to a close in Bitcoin, it didn’t just begin a new calendar year – it triggered a sell setup of epic proportions. Here is why the secular bull run in cryptocurrency could come to an end this year, and the first true bear market emerge. Bitcoin Yearly Chart Triggers First Ever Sell Setup You wouldn’t know it based on the recently bearish price action, but Bitcoin has been in an ongoing bull market since the second the genesis block was generated exactly thirteen years ago today. In the span of a normal childhood growing into a teenager, the price per coin has ballooned and bubbled its way from zero to $68,000 per BTC. Related Reading | Point & Figure: The Chart That Makes Bitcoin Support Cut And Dry The trajectory hasn’t always been up, as the price chart has shown, but the asset has been outrageously bullish nonetheless. Many indicators back up this theory, having never crossed into bear territory ever once since price was recorded. For example, the monthly MACD hasn’t made it below the zero line since 2015 despite the 2018-2019 “bear market.” The monthly Directional Movement Index had only a month-long temporary bear cross around mid-2015, but aside from that has never been bearish for an extended phase. However, the sequence of ups and downs experienced over the years, like any thirteen-year-old would experience, has resulted in a specific sel...
