This is the fastest time Bitcoin ever entered HTF oversold.

This cycle correction took 140 days.
The other cycles it took:
2013 - 413 days
2018 - 350 days
2022 - 210 days
We have also now had a sweep of the low, which printed a bullish divergence.
In addition, Long term holder supply is at the highest level ever, whilst Long term holders are in the highest percentage of loss ever.
Long term holders, the smart holders, have added the most they have ever added, and they're willing to hold underwater.
So the market has reached most level of oversold whilst LTH are diamond handing and adding, with a HTF bull div.
To me, at this stage, to expect another full leg down into October, just because of 4 year cycle, is not founded in the actual data.
The indicators have hit, the onchain metrics are there, and the accumulation with staunch holding through drops is happening.
I don't really see the argument for significantly lower with these metrics.
It would be a first for Bitcoin to entered oversold a second time during the same bottom, and LTH would need to continue to hold in a deeper loss, when those levels are already at record highs.
I do see the outcome of $54,000, whilst keeping the bull div intact, but that is as much as I see.
This is the bottom zone, and it will recover faster than most people think imo.