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What if the Bitcoin bottom isn't in?
Last cycle we dumped 52% and rallied ~45% before continuing lower. Right now we have dumped 52% and rallied ~32% so far.
Last cycle we found resistance at the 12 and 25 EMA, we even had a distribution above these before continuing lower. We are currently testing this level for the second time (last time we rejected).
Also, something to note is the posture of said moving averages, they are still aggressively coming down, we haven't seen compression or a trend change.
Lastly, on this charts analysis, the price structure of the current low does not mimic a macro bottom (higher lows and higher highs). Macro bottoms are formed with sweeps of the low and often show a bullish divergence (price goes lower but rsi goes higher). Right now, there is a LOT of stacked liquidity below these lows, that is a huge magnet target.
Food for thought, is the bottom in?