#bitcoin (BTCUSD) has been repeating almost theexact same pattern during every Bear Cycle and itssubsequent bottom.
Once the Bull Cycle tops, the market enters acorrection under Lower Highs, which is technicallythe new Bear Cycle. A break below the Supportofthe Descending Triangle typically initiates Phase 2,which is where BTC is currently at.
On the 2014 and 2018 Bear Cycles, the bottomcame on the 1M MA50 (blue trend-line). On the
more recent one (2022) it was formed within the 1M
MA5O - 1W MA350 (red trend-line) Zone. This iwhere we expect BTC to form its new bottom
minimum), within $50000 -45000.
historically been either on the 0.236 Fibonacci
retracement level from the previous Cycle Low or onthe 0.5 Fib (blue) from the upcoming bottom. Ifthis
is again on the 1W MA350, then this time the0.236
and 0.5 Fibs overlap, which largely confirms this
Triangle thesis.
