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Figure 1 shows the 2022 bear market. If the FTX collapse in November 2022 had not occurred, the trend from June to October would likely have been a bottoming process.
Looking at this cycle, as shown in Figure 2, currently, the weekly, 3-day, and daily levels are resonating. The daily level was already weakening but was saved again above 65,000.
If no new variable conditions are introduced, it can be inferred that: