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$BTC
Daily chart
At the beginning of the month, Bitcoin crashed in a straight line, hitting a key local bottom at 60k for the first time since February.
Then, we bounced strongly and had a daily close above 63k.
This is a logical relief rally, as we mostly dumped in a straight line since 73 000$.
However, this doesn't mean Bitcoin bulls are fully back. In fact, the whole structure remains bearish because of this major crash that violently sent Bitcoin back to the lows.
Looking at the bigger picture, I don't really see how this whole structure can hold 60k for weeks.
Plus, we remain in a bear market as part of the 4-year cycle so it also adds up to my bearish bias.