Bitcoin remains neutral on its 1W technical outlook (RSI = 47.034, MACD = -5429.300, ADX = 27.352) indicating that it is still inside a Bear Cycle. A simple application of the Mayer Multiple Bands (MMBs) shows that all Bear Cycles since 2014 have bottomed within the last two (2 and 3) standard deviations. The floor on this is 40,000 but of course can dismiss it reversing a little higher e.g. 45,000. One thing that this indicator shows for certain, is that the next bearish wave will be the one to start the pricing of the bottom, which could be a long process like in 2022 and 2015.
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