If Bitcoin closes today below its annual moving average, the next target is the bottom of the annual channel at $65,000. CVD data shows selling pressure across all timeframes; approximately $1.78 billion exited in the last 24 hours, and over $5 billion this week alone. Most importantly, a close below the annual level changes the perception that the bottom has already formed—a view confirmed by most data analysts, including myself. My key difference is that I’ve said from the start that this cycle is different and anything could happen. That’s why I’m not fixated on the bottom—we should simply follow Bitcoin level by level. Focusing too much on the bottom or top will waste your time. This scenario is invalidated if the price returns above $73,500.
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