It's no fun when the price action goes against you, but zooming out adds some perspective

In the short term, bitcoin has been pretty bearish.

It's barely clinging to a support level here around $47k and honestly looking like it might want to go lower.

However, if we zoom out a bit things don't look so bad.

Looking back at the 2017 bull market and we had something very similar to this, at pretty much the exact same time...

Check it out:

(Source: https://twitter.com/ecoinometrics/status/1393951909812207617/photo/1)

We had a pretty good plunge right around the same time here and eventually went on to make much higher highs.

No guarantees that is what happens this time around, but there are a lot of reasons to believe this bull market has room to run.

Even guys like Tom Lee just upped their price target for the year to $125k.

That is a lot higher than the current price in a relatively short period of time...

Anyone buying the current levels is looking at a 3x in about 6-7 months.

Not many places you can get near those type of returns outside of crypto...

Stay informed my friends.

-Doc