Bitcoin (BTCUSD) is having a very strong red 1W candle whose body got rejected exactly on the Support level that held all of the February - March candle bodies above it. We call this a Cycle Pivot and on the current one it's the 2nd one. The previous one (Pivot 1) was what shaped the 2nd part of the January Bearish Leg. If the pattern is repeated then it is obvious that the Pivot 2 rejection took place technically at the middle of Bearish Leg 3.
You can also see that the very same Pivot rejection structure took place during the previous 2022 Bear Cycle. Its Pivot 2 rejection also took place after the 1W MA200 (orange trend-line) was breached and eventually kick-started the decline towards the Cycle Bottom on the 1W MA350 (red trend-line).
The symmetry between those three Bearish Legs has been very high and so far that seems to be the case also for the current Bear Cycle (-36.24% and -38.62% respectively). The May 2026 High initiated Bearish Leg 3 and if it makes the -36.24% minimum decline, it should hit $53000 before the eventual Cycle Bottom on or below the 1W MA350 a few months later (October 2026 Cycle concludes) on a $50000 minimum.
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