Many investors are waiting for another bull run like the ones that occurred back in 2020 and 2021.
As a reaction to the plummeting prices, a snowball effect began to occur, in which additional crypto projects were affected and, as a result, plunged even more.
In addition, as seen in Figure 2, Bitcoin values previously consolidated around those same regions before beginning an advance.
Since Bitcoin and the crypto market are considered in a bear market, we can safely set specific sell and buy areas.
Bitcoin did reach a low price of $25,500 back on the 12th of May 2022, but that was for a very brief moment due to panic selling across the crypto market.