WATCH INDICATORS

“The two lines are just two simple moving averages on the bitcoin weekly chart, the 50 week moving average and the 100 week moving average. Every bear market bottom has the 50 week moving average falling below the 100 week moving average. So let's go ahead and zoom in on the data and see, why haven't we seen it this cycle? Are we gonna see it this cycle? And what are my thoughts on, are we at a bottom?”

“This is now the best Bitcoin bear market from a drawdown perspective. If you measure from the top and you measure the amount of days it's been, when we're this amount of days from the previous cycle high, we were always a lot lower with Bitcoin's price. Because we've only fallen 38% after 193 days, we're not gonna see this bear market cross in my opinion.”

“Goldman's Bitcoin ETF push signals Wall Street taming crypto. This is major news. And now Morgan Stanley's most successful ETF launch ever was this Bitcoin ETF. That's not all, Charles Schwab is rolling out direct spot crypto trading. Normally that would look like the headlines you see over a year, that is all in the past 24 hours.”

“Bitcoin is in a bullish range. We're zooming in to the daily chart here. We're still in this parallel range. This parallel range continues to make higher lows and higher highs. And just today we created a very, very bullish higher high. Now the downside of this pump here is we are gonna be running into resistance pretty close to where we're at today.”

“In conclusion, this perfect Bitcoin bottom indicator might not be perfect anymore. I know it is called the last three cycle lows. It's called every single bottom for the last decade here. But I'm here to make the argument that I don't think we're going to see this orange line cross below this teal line. 60k might be the bottom folks.”