#BTC
Indeed, Bitcoin repeated 2014 Macro Triangle history where ~$82500 almost picture-perfectly served as a the ceiling for the Relief Rally from earlier this year
Since then, price has continued its Macro Downside in search of the next consolidation cluster (orange) in this Bear Market
Of course, the final consolidation will take place at the Bear Market Bottom
At this moment, price is likely in a transitional phase where it finds itself in between such clusters
That is, Bitcoin has broken down from the cluster that developed just below the Macro Triangle base for this cycle
And now, Bitcoin is on the cusp of continuing into a brand new lower cluster
Therefore Bitcoin could hang around $60k this Summer as part of turning February/March lows into new resistance
But afterwards price would likely breakdown again to transition into one of the very final consolidation clusters of this Bear Cycle
$BTC #Crypto #Bitcoin
BITCOIN IS STILL IN BEAR MARKET TERRITORY
Three key indicators—the aSOPR - 1 (x10), the Puell Multiple - 1, and the Reserve Risk Multiple - 1—are all currently hovering below the zero line, confirming a dominant bearish posture.
For these specific indexed metrics, values below zero signify deep market capitulation, depressed mining revenues, and an extended accumulation phase.
The first technical confirmation of a trend reversal from bearish to bullish will be the aSOPR metric crossing back above zero.
A confirmed break on the aSOPR, followed by zero-line breakouts on the Puell Multiple and Reserve Risk Multiple, will validate that a new $BTC bull market has officially begun.
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Everyone celebrating Bitcoin at $62K right now
No one's asking what happens at $67K
$67K is a powerful psychological mark. Won't break that easy. After reaching this target $BTC will dump like this:
$65K → $52K → $49K → $43K
Next stops:
→ $49K next week
→ $43K by August
Bookmark this chart - you'll come back to it next week.
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🚨 $BTC just dropped below $65,000.
Yesterday when Bitcoin was close to $67k, people were telling me the dump was over and that new highs were coming. Today the same market is red again.
This is why I always tell people not to get too excited by a few green candles.
The biggest mistake traders make is thinking that price going up means the trend has changed.
Yesterday I said the recent pump was mostly driven by the US-Iran peace news and that Bitcoin was entering one of the strongest resistance zones on the chart around $68k-$70k. And exactly in this level buyers are struggling.
I still believe Bitcoin will go below $60k again before the real bottom is in.
The real Bottom will be:
$BTC $52k
$ETH $1400
$SOL $40
One thing crypto has taught me is that the market looks strongest near local tops and looks dead near major bottoms.
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