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The chance of new lows has become extremely slim.
It has now been 105 days since the cycle low, in which the 1W RSI entered oversold...
Only for the 4th time ever.
The only time Bitcoin made new lows after 105 days after the bottom was in the last cycle.
However, the RSI had not reclaimed 50, which in this cycle, it already has.
In addition, after 105 days in 2022, Bitcoin was pretty much at the lows.
Now, we have reclaimed HTF structure.
In every other cycle since Bitcoins birth, 105 days after the RSI low, the bottom was well in.
You can see here in the 2018 bottom that after 105 days, Bitcoin had also reclaimed 50 on the RSI and was at new local highs...
Just like we have now.
Using 2022 as your cope to keep waiting for new lows has become extremely thin, because as we can see...
This cycle is nothing like that one already.
And the only reason, in my view, that 2022 is the outlier here, is because FTX was technically a black swan event.
Making it the only cycle to have made new lows after the 1W RSI reaching oversold.
Bottom is in.