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*Disclaimer: It is obviously unclear whether the Bitcoin bear market bottom is in and there are valid reasons one can imagine why the bottom would not be in, such as the global market conditions, lower percentage drawdown relative to previous bears, lower time in bear market relative to previous bears).*

But, *if* the June 2022 low turns out to be the lowest point of this bear market, would it feel and be perceived as obvious later on? Why I ask? Well:

* Every crypto bottom indicator flashed (e.g. Hash Ribbons indicator, Pi Cycle indicator, Puell Multiple indicator, Weekly RSI oversold to bear market bounce level). It would be a mere repeat of history based on *almost* every indicator.
* Every day there is bullish news of institutional adoption. This is totally different from the previous bear markets. Alts are also holding a lot of their strength.
* We retested the (weekly/monthly candle of the) 2017 all time high, not closing a week or month below it, while there is clear multi-month period of sideways similar to what one sees during the anger/depression accumulation phase.
* There was a clear capitulation moment with Luna and 3AC blowing up causing a lot of people to sell at a loss similar to final capitulations of previous bear markets
* This is the 0.786 FIB level from the COVID low to all time high - the last Fibonacci retracement level.
* There is a bullish divergence on the weekly. This has never really happened before, with price down and RSI up.

Im curious what you think. Just to be clear i dont want to predict what happens or not but am curious how we would look back on this time if June was the bottom

35 Answers

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You can forget about "crypto indicators" when you have a madman filtering with nuclear war. This bear market was created by the war and will last until the war is over.
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Bitcoin rainbow chart is testing the bottom resistance. Keep the DCA on
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I bought anyways just to make sure I didn't miss it
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No
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In hindsight everything is obvious.

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