Bitcoin needs to step up in order to bring the bull back.
In every bullish November (2023 and 2024), BTC bottomed early in the month with small drawdowns under 5%.
Each early reset led to strong rallies for the rest of the month.
This time, we’re already down ~10%, not a good sign.
Momentum and structure are close to breaking.
We need a strong green candle soon to keep this from turning into a late-cycle setup just like 2021, when the market rolled over after a failed November bounce.
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Bitcoin needs to step up in order to bring the bull back.
In every bullish November (2023 and 2024), BTC bottomed early in the month with small drawdowns under 5%.
Each early reset led to strong rallies for the rest of the month.
This time, we’re already down ~10%, not a good sign.
Momentum and structure are close to breaking.
We need a strong green candle soon to keep this from turning into a late-cycle setup just like 2021, when the market rolled over after a failed November bounce.
Stay alert.