Short

BTCUSD: Entered a bottom zone like 2022.

Bitcoin turned marginally bearish on its 1D technical outlook (RSI = 43.019, MACD = -2459.000, ADX = 36.481) as the bullish trend reversed intraday, with the 1W RSI staying strongly bearish (38.217) only 2 weeks after rebounding on the 1W MA200. The market has entered a similar Zone as it did during the 2022 Bear Cycle, bottoming a little lower than the Cycle Top that preceded it. That was also marginally above the 0.5 Fibonacci and on the 1W MA350. According to that, Bitcoin eyes at least 53,000 for a bottom but that won't make contact with the 1W MA350 most likely. A 'bad' case scenario at 46,500 covers that and places the bottom marginally above the 0.5 Fib just like in November 2022.

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