What does the bottom of the Bitcoin bear market look like?
Why do I think 60,000-70,000 is not the bottom? The reason is simple: the bottom of Bitcoin has never been a "V-shaped sharp bottom" but rather a "sideways range" that is ground out.
Look at the previous bear markets (2015, 2018, 2022), the trends are all the same:
1. First, it breaks through everyone's psychological bottom, frightening the last batch of panic sellers;
2. Then it stops falling and starts a long period of sideways fluctuations (building the bottom);
3. After enough grinding, it slowly begins to rise, ending the bear market.
This is not a coincidence; it is a rule of the 4-year cycle.
So if you want to catch the bottom, don’t rush; the real bottom is a rounded bottom (U-shaped bottom), which takes time to grind out.
If you’re not sure, just wait for it to consolidate for a while, and enter when it starts to rise on the right side; that’s when the signal is most clear.
Let me teach you a simple mantra to judge bulls and bears:
Bull Market: If it drops for a week, it rises back in three days;
Bear Market: If it rises for a week, it drops back in one day.
What kind of market is it now? You decide.
