$BTC
The bottom is in and here’s why.
Last bear market, BTC deviated below its previous ATH before going on to break back above it and begin the next major cycle.
This time around, price has once again deviated below the previous ATH and has now broken back above the bottoming zone.
Back in 2022, once that happened, price never revisited that area. Looking at the current structure, this setup looks very similar to what we saw back then.
Of course, that’s not a 100% guarantee that the bottom is in, but once bearish structure also gets broken, there won’t be much left to argue against it.
Lower soon.
After a short deviation above the range highs, where price pushed toward $81.3K, BTC has now found acceptance back inside the range.
Price then retested the upper boundary of the range and is currently getting rejected.
The scenario I’m expecting next is a pullback toward the range lows to clear some of the liquidity that has started to build below.
If LTF structure flips bearish again, I’ll likely also look for a short scalp targeting $76K and potentially lower.