Bitcoin had a death cross today.
Note that prior death crosses marked local lows in the market.
Of course, when the cycle is over, the death cross rally fails.
The time for Bitcoin to bounce if the cycle is not over would be starting within the next week.
If no bounce occurs within 1 week, probably another dump before a larger rally back to the 200D SMA which would then mark a macro lower high.
Trade the market you have, not the market you want.
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Last cycle, #BTC dropped 30% after ALT / BTC pairs broke down, before it got a bounce.
If it does the same, it means the bounce won’t come until $50k.
Even then, last cycle it still eventually resolved lower.
#BTC is down 16% from the highs.
So far, this is a normal drop. In fact, we’ve had several 20-22% drops this cycle.
BUT
This time it could develop into something more.
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