The host breaks down why Bitcoin hasn't entered a bull market yet. A weekly close above $82,200 is needed to signal the first step of a reversal, and until that happens, the bear market continues.
is the bear market over? And the short answer to that is going to be not yet. Or at the very least, based on the system that I trade, I don't think we have enough signals to tell us that, okay, the bear market is officially over. Now, just to explain what I mean by this, the basically the main kind of signal that I would look for to signify that a bear market is over is some sort of an undeniable CIST on the weekly chart. And at the moment, based on how the chart is looking like so far, the first valid level would be at around $82,200, which means that we would need a convincing candle close on the weekly chart above this level And if that happens, congratulations, we're basically out of the bear market, or at the very least, we have completed step 1 out of maybe like 2 or 3 steps to kind of go for a full market reversal.
