Thread by @venturefounder

#Bitcoin has been making higher highs since the crash to $18k, but the recovery is nothing impressive after a crash of this magnitude.

I think #BTC might stay in this area for sometime waiting for July CPI number, macro decisions (Fed) and Q2 earnings/recession confirmation.

But to be fair, this crash is significant because it has brought #Bitcoin down to the level in sync with previous cycle bottoms.

#200WMA gives a bottom target of $22.4k, #BTC is now below that.

BTC also resting on 1 fib extension level in this correction, like 2018 cycle bottom

3D deathcross-capitulation model gives a target of $15.5k #Bitcoin for this cycle bottom, #BTC has come close to this target during the crash but didn't hit it.

Notice the 3D RSI wasn't as oversold yet as with the 2018 cycle bottom.

#50MMA model gives a cycle bottom target of $21.3k for #Bitcoin, and #BTC tested this target and now holding exactly at this level.

Note the monthly #RSI is now the most oversold in the history of Bitcoin. However price CAN continue to go down even if RSI recovers (divergence).

The last model here is #200DMA deviation model: #Bitcoin tested the largest deviation in history (-52%), similar to the 2018 cycle bottom, suggesting extremely OVERSOLD conditions after a persistent bearmarket, even if not the cycle bottom yet.