Bitcoin $BTC is about to close the weekly timeframe. A close below $80,600, the mid-November 2025 low, would be extremely bearish and signal additional bearish action. The close is happening today in just 11 hours.
The current relief rally lasted 56 days, 8 bars. The previous relief rally in 2022 lasted 63 days, 9 bars.
If we were to count the current relief rally ending last week, then we have exactly 63 days on both rallies.
Just as Bitcoin had support from a June 2021 low in 2022, it also has support now from a low in April 2025. Regardless of support, it moved straight down.
If Bitcoin were to move straight down, the bear market bottom can easily come up in July rather than October 2026. This would be a desirable development.
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