$BTC
When you get bad news and the price doesnβt move much, you know youβre getting close to the bottom.
We just saw:
β’ Multiple crypto exchanges fail (AscendEX, BitMEX, BitMart).
β’ A Coldcard security failure resulting in tens of millions of dollars in lost user funds.
β’ MicroStrategy sells hundreds of millions of dollars worth of BTC.
The bottom is close. Some think the bottom is already in. I think itβs yet to come, but not far off.
BTCActivation price $63,470Direction ShortType DirectionalTimeframe Mid
Max Favorable +0.0%Max Adverse β1.5%ACTIVE
$BTC
When you get bad news and the price doesnβt move much, you know youβre getting close to the bottom.
We just saw:
β’ Multiple crypto exchanges fail (AscendEX, BitMEX, BitMart).
β’ A Coldcard security failure resulting in tens of millions of dollars in lost user funds.
β’ MicroStrategy sells hundreds of millions of dollars worth of BTC.
The bottom is close.
Some think the bottom is already in. I think itβs yet to come, but not far off.
BTCActivation price $63,470Direction ShortType DirectionalTimeframe Mid
Max Favorable +0.0%Max Adverse β1.5%ACTIVE
$BTC is currently $63,549
$ETH is currently $1,862
If $BTC finds a cycle low at $50k that would be a 21% drop from where it is today. Imo, $50k would actually be quite bullishly high for a bear market bottom, because it would only be a 60% drop from the highs. That would be great performance for a bear market.
$ETH, being beta to BTC, would likely drop more than BTC, so I'd assume it would drop 30% or greater. That would put it closer to $1,300 or lower. ETH is pushing into resistance currently, so it seems likely we see lower prices.
Just some napkin math.
ETHActivation price $1,859.47Direction ShortType DirectionalTimeframe Mid
Max Favorable +0.6%Max Adverse β0.8%ACTIVE
$BTC sees a tiny pump and hope floods the timeline.
Every. Single. Relief rally.
Thereβs still too much hope and enthusiasm for the bottom to be in.
I think $BTC may go as high as the 200-day MA (around $70k-$71k) before dumping again.
Enjoy the relief rally. The bottom isnβt confirmed yet.
BTCActivation price $64,671.83Direction ShortType ConditionalTrigger Sweep Above (Reversal Down) 70000Timeframe Mid
PENDING TRIGGER
$BTC sees a tiny pump and hope floods the timeline.
Every. Single. Relief rally.
Thereβs still too much hope and enthusiasm for the bottom to be in.
I think $BTC may go as high as the 200-day MA (around $70k-$71k) before dumping again.
But enjoy the relief rally. The bottom isnβt confirmed yet.
BTCActivation price $64,716.19Direction ShortType ConditionalTrigger Sweep Above (Reversal Down) 71000Timeframe Mid
PENDING TRIGGER