Bitcoin closed January at $78,635 (-38% from ath)
200 Week Moving Average $58k
Realized Price $55k, decreasing
RSI dropped below 50, blue: official bear territory
Historically BTC could drop to 200WMA/RP levels
However bull has been weak (no red) so bear might be shallow
If you've been following along, you know that I've been scaling my DCA using this metric. For the last few months, I've built up a cash reserve and at this level I'll start dipping into that reserve.