$BTC - It’s time to talk about the scenario where the bottom is NOT in yet.

Over the past couple of weeks, I have continuously highlighted the confluences suggesting that the MACRO BOTTOM for $BTC and $ETH is already in, alongside the confluences pointing toward a MACRO TOP for $USDT.D.
But despite that, the majority of analysts continue to push scenarios where Bitcoin still has ONE FINAL LEG LOWER before the real reversal begins.
So let’s talk about it.
In the scenario where the bottom is NOT in yet for Bitcoin, I believe we could see a very strong correlation to the 2022 bottoming formation.
Back then, the 3D RSI formed a MASSIVE BULLISH DIVERGENCE.
While the price formed LOWER LOWS, the RSI started making HIGHER LOWS.
That was a major signal showing underlying strength while the market was still trapped in maximum fear.
And the important part is this:
At that time, NOBODY was focused on the bullish confluences forming underneath the surface.
Everyone was focused on the bearish narratives.
The recession calls.
The exchange collapses.
The “Bitcoin is dead” headlines.
The panic.
The fear.
That is how bottoms are formed.
In my view, if Bitcoin still has one final leg lower left, the most likely bottoming area would be around $50K-$55K.
That would imply roughly another 30-35% move lower from current levels before the next major expansion toward NEW ALL-TIME HIGHS.
And this is where most people completely misunderstand the opportunity.
Even in the bearish scenario, the RISK-REWARD remains EXTREMELY ATTRACTIVE on the high-timeframes.
Because the downside is limited relative to the upside potential that will emerge over the upcoming months.
That is why, even IF the bottom is not in yet, which personally I do NOT currently believe to be the case, this still remains a great long-term buying opportunities forming in the market.
Right now, everyone is talking about Bitcoin being “dead” because equities continue grinding toward new highs while Bitcoin struggles.
But this is simply how LIQUIDITY ROTATION works.
Traditional assets usually bottom FIRST.
Capital initially flows into equities, large-cap stocks, defensive positioning, and traditional assets.
And only later, once confidence and risk appetite builds up, liquidity starts rotating toward HIGHER-BETA assets like Bitcoin.
So the fact that Bitcoin is not aggressively rallying yet is NOT a bearish confluence.
In my view, it is actually a sign that this broader market uptrend may be more DURABLE than most expect.
Risk appetite has not yet reached the stage where broad speculative liquidity aggressively flows into crypto.
And historically, that phase tends to come LATER in the cycle.
That is why I believe emotions and headlines are currently far more bearish than the actual high-timeframe structure suggests.