#Bitcoin and ISM PMI Many people have asked me this question in comments and private messages, so I'll explain briefly here. First, calling the ISM PMI a "business cycle" is absurd. In economics, selectively taking a macroeconomic indicator out of context and treating it as a cycle is called abusing proxy indicators. That being said, let's look at the charts. In 2013, 2016, and 2020, when the PMI rose above 50, Bitcoin showed hidden bullish divergences. Each time, a bull market followed. And today? The PMI has just broken 50 again, but this time it shows a typical bearish divergence. The same indicator, different structure, can lead to different results.

Bitcoin prices have broken through their previous yearly lows. In the short term, Bitcoin prices are likely to return to the Tenkan 🔴 level.

#Has Bitcoin "bottomed out"?

Ethereum has lost its balance. Even though the structure remains weak, the price is starting to become more attractive from a risk/reward perspective.

#Bitcoin This is why structure is so important. Warning signs appeared months ago. The price simply followed suit in time.

Bitcoin has just broken below the 38.2% Fibonacci retracement level. This has been a key support level for my bull market since the 2022 lows. Now, it has been broken on both the weekly and monthly charts.

#Bitcoin and ISM PMI Many people have asked me this question in comments and private messages, so I'll explain briefly here. First, calling the ISM PMI a "business cycle" is absurd. In economics, selectively taking a macroeconomic indicator out of context and treating it as a cycle is called abusing proxy indicators. That being said, let's look at the charts. In 2013, 2016, and 2020, when the PMI rose above 50, Bitcoin showed hidden bullish divergences. Each time, a bull market followed. And today? The PMI has just broken 50 again, but this time it shows a typical bearish divergence. The same indicator, different structure, can lead to different results.

#Bitcoin Previous monthly low ✔️ Previous quarterly low ✔️ Closely monitor the first round of FVG overshooting.

#Bitcoin Bitcoin resumed its downward trend after encountering resistance at the monthly fair value gap. Liquidity remains ample.

#Bitcoin Chicago Mercantile Exchange Futures Gap🕳️ A huge gap has appeared between 78k and 84k. Magnetic attraction often fills this gap.