 Thank you so much indeed for watching my videos and supporting this channel. Your loyal viewership means a lot to me and thank you very much also to those of you who regularly click like and also comment on my videos as well. I really appreciate it. Okay guys, let's begin. So as I'm sure you probably noticed the recent crash and volatility we've seen in the price of Bitcoin has caused a lot of people to write articles, very sensational articles and also videos as well that yep definitely we're now in a Bitcoin bear market. I've seen similar videos about Ethereum as well. There's some who say Ethereum is also in a bear market and I want to talk to you a little about this. Now I mentioned some of this stuff in a previous video as well however I think it's worth just going over this one more time. I'm making my views a bit more clear because you see what's happened is after Bitcoin dropped by about 50% from its highs to its lows a lot of articles have been written and a lot of videos being made that Bitcoin is now without a doubt in a bear market and by the way some of these people who are making these articles and videos are people that I respect. I don't think they're bad people. I think they mean well. I just disagree with them on this point from a technical perspective. So I think the reason why many chart analysts are saying that Bitcoin has gone into a bear market which I disagree with it's because the fact they're basing their definition of a bear market on something completely arbitrary which is that anytime price drops by about 20% or more they consider that to be the definition of a bear market. Now I got to tell you guys some years ago I used to also accept this definition of a bear market. This changed though with some experience and also after I talked to a great trader her name is Linda Rashke and she said something very interesting. She said look you cannot base definitions of bull markets and bear markets on something arbitrary like a number like 20%. Okay so just because prices drop by 20% or more that doesn't necessarily mean you've gone into something called a bear market or a downtrend. In fact we realized this the hard way last year in 2020. Do you guys remember when the stock market when the S&P dropped by 34% very quickly that was by far the fastest crash in history and the shortest bear market in history as well because again a lot of folks said at the time last year in March of 2020 that that crash in the stock market in the S&P was without a doubt a bear market. The problem with that viewpoint is this if you consider that to be a bear market just because it dropped by more than 20% then the problem is that you might have actually missed out on the rally that came after it because you'd be so consumed with this mentality that we're in a bear market that you would have completely ignored and missed the signs that were going back into an uptrend and a potential bull market and a trending up market. So again this is why I find these definitions of bear market and bull market based on some number like 20% to be arbitrary and actually useless and that's why I don't agree with it I don't use it and again going back to bitcoin just look back at this chart look back at this rally and this bull market we saw in bitcoin from 2015 to 2017 we had several crashes we had several corrections and drops in that bull market which were more than 20% some of them were 30% drops some of them were 40% or more drops in the price of bitcoin so are we supposed to think that these are all bear markets every single one of those drops are bear markets it doesn't make any sense and besides the structure of the price on that weekly chart looks clearly like a bull market like an uptrend not like a bear market or a downtrend the same thing is true with ethereum even ethereum in the previous bull market suffered a 69 crash as you can see here in the price and you can see here despite that massive crash that drop it continued that uptrend and that bull market and again to me as a perfect example of why such a big drop like that cannot by itself be considered as a bear market or a downtrend doesn't make any sense because it continued the bull market and the uptrend afterwards so you're probably thinking okay well if a 20 drop in the price is not a bear market then what is well guys as I'm sure you know I've already made a video for you a very detailed analytical video for you as to what is a better definition of a bear market if you haven't seen this video go ahead and watch it and all I would say to you is look for me a better definition of a bear market is to look for a pattern okay to look for the price to actually persuade us that's going into a bear market and the way the way price can persuade us that it's going into a bear market is not just some arbitrary drop of 20 percent or 30 percent 40 percent 50 percent that is not very useful what is useful is looking for a specific pattern especially on the weekly chart I think the weekly chart patterns are really important but what I've learned is this for a bear market to be confirmed you need to have price structure you need to have market structure being broken on several time frames not just the daily not just the four-hourly but the weekly chart we need to see price structure or market structure being broken especially on the weekly time frame has that happened yet at the moment on the weekly chart of bitcoin I would argue no I have not yet seen market structure being broken on the weekly chart if you want to know what I mean by that have a look at my previous video that specific bearish pattern that I showed you my video has not happened yet and by the way another key sign or signature of a bear market is when rallies get rejected usually in bear markets any strong rallies usually result in strong declines so often in bear markets and downtrends rallies get rejected and we see lower lows lower highs that is something we've not yet seen on the weekly time frame if you look at a bull market uptrending structure usually after a significant drop you then see a jump in a rally and then that rally sees follows through higher okay the opposite is true in a bear market in a bear market after a significant drop any rallies from that point on get rejected and they result in more declines so in a bear market you see rallies getting sold rallies failing so guys keeping it simple at the moment I have not yet seen those two specific signs of a bear market on the price chart of bitcoin if we do see it if price actually persuades us if the price chart of bitcoin actually proves to us that it's moving into a bear market territory by showing the specific patterns then fine then we could be saying with a high probability we're going into a bear market but again as I've said before I'll find these definitions of bear markets and bull markets based on some arbitrary number to be really useless all right guys I hope this video helps and look forward to seeing in the next video update cheers