🟠 Orange Monthly: Drawdown Depth Gauge

This months Orange report analyses the Bitcoin drawdown, and works through a set of scenarios for how low the bearish trend may take us, and market signals I am tracking for early signs of a recovery

Important Note: The monthly report below is available for Checkonchain Orange members.

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• Institutional-Grade Monthly Report PDF

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Dear Orange Members,

There was only one clear topic to be covered this month, and that is profiling the prevailing market drawdown, which for all practical purposes, should be considered a bear market trend.

I have already started seeing consensus forming around particular price levels for where this bear may ultimately find its bottom, mostly based on what previous cycles have done in the past. However, as we know, this cycle isn’t like the other cycles, and it is my view that rigid 4yr cycle thinking has a higher than usual chance of leading us astray.

For November, our report is titled Drawdown Depth Gauge, and I explore my base case for bottom formation levels in more detail. I add rigour to my thesis and expectations for where I expect this bearish trend to resolve, and also highlight several sectors of the market which I believe can provide us with leading indicators for when the tides start to turn back around.

Checkonchain Orange Members will find the report PDF, and details of our upcoming monthly conference call below.