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Bitcoin's recent 20% weekly decline has revived expectations for a deeper decline, but one key event—a countertrend rally that has yet to materialize—could determine the entire cycle's direction. Analyst Kevin, in his latest market analysis, argues that the current selloff is part of a typical mid-cycle correction, not a confirmed top.
He highlights several structural breakouts that have fueled the bearish narrative. Bitcoin has fallen below the 2-day moving average (EMA) and the 200-day moving average (SMA), broken above the 50-week moving average (SMA), and lost the $98,000–$106,800 confluence zone, an area marked by long-term Fibonacci retracements. Cycle reversal profiles also resemble late-cycle readings, adding pressure to the outlook.$BTC #WhichSectorsAreYouWatchingIn2025? #ContentMining&EarnRichCommission #AreYouBullishOrBearishToday? #SpotETFApprovalUpdates #DecemberRateCutForecast #DecemberRateCutForecast