#BTC

What are the characteristics of Bitcoin's bear market bottom?

Why do I believe the 6-7 million dollar level is not the bottom? The reason is simple: Bitcoin's bottom won't be a sharp V-shaped bottom, but rather a sideways consolidation range.

The 2015 bear market bottom
Chart 1
The 2018 bear market bottom
Chart 2
The 2022 bear market bottom
Chart 3

Reviewing previous cycles, we discover striking similarities.

In the late stages of a bear market, there's typically one final crash that breaks through everyone's psychological defense line. Subsequently, the downward momentum weakens, the market enters a sideways consolidation, followed by a wave of upside movement that ends the bear market and ushers in a bull market. Every bear market bottom follows this pattern.

This isn't actually a coincidence—it's still the 4-year cycle at work.

So there's no need to rush into bottom-fishing. The market's lowest point is most likely a sideways consolidation range at the bottom, which is a rounded bottom or U-shaped bottom. Building a base takes time.

If you're not confident about bottom-fishing, wait for a sideways consolidation period, then enter when the right side starts rallying. That's when you have a clear signal that the bottom is in.

How to define bull vs. bear markets?
A decline over a week, rallied back in three days = bull market
A rally over a week, crashed in one day = bear market

So whether we're in a bull or bear market now, everyone should have clarity!