Short

BTCUSD: Starting last flush before the bottom.

Bitcoin is almost oversold again on its 1D technical outlook (RSI = 34.295, MACD = -2443.100, ADX = 33.163) as well as on 1W. According to the Mayer Multiple Bands, every Bear Cycle Bottom Zone has been between the 2 and 3 Stdev below lines. The price has just breached into the 2 and with today's selling, the final flush sequence that will will to the Bottom has been initiated. Given that the last Cycle almost hit the 0.5 Fibonacci level before bottoming, we can expect $45,000 to print during this process.

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