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The real concern here with $BTC is not only the monthly but the quarterly chart.
It's freshly coming off its first bearish close since the bull market started in 2023. The pivot (end of march close) remains at ~$108k.
Last cycle it took 640 days to cross back bullish
22 bear cycle it took ~640 days to cross back bullish
Now this doesn't usually predict the exact bottom (this is why I spread my analysis across timeframes) but it supports the notion, that after ~640 days momentum truly shifts back into an impulsive breakout higher in a bull market.
12 hours ago
$BTC still has SEVERE pressure to the downside on the monthly chart.
Pivot is ~$47,000 above from current price. It's still sitting at the ~50th percentile with aggressive posturing to the downside upon the next few monthly closes.
2018** cycle not 2022*
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