- Doctor Profit once again confirms that Bitcoin is in a strong bear market.
- The reputed silver-tongued analyst shares 15 bearish indicators.
- He does not expect to see Bitcoin hit higher targets anytime soon.
The reputable and respected crypto analyst, known for his several silver-tongued, accurate predictions, goes on to share his latest market update. In detail, Doctor Profit once again confirms that Bitcoin is in a strong bear market with several supporting indicators. To highlight, he goes on to share 15 factors that all point to Bitcoin (BTC), the pioneer crypto asset, being in a bear market.
Doctor Profit Once Again Confirms Bitcoin in Bear Market
Popular analyst, Doctor Profit, once again reminds the crypto community that the pioneer crypto asset, Bitcoin (BTC), is in a bear market. The analyst then goes on to share 15 indicators that confirm his belief that Bitcoin is indeed in a heavy bear market cycle. To start off, the analyst highlights the top 5 points, which include bearish divergence playing out from Summer, death cross confirmation, confirmed loss of EMA50W, empty repo markets, and low liquidity.
As we can see from the post above, the analyst also highlights 10 other indicators that point to a confirmed bear market for Bitcoin (BTC). These include retail still holding, no capitulation seen yet, repeat of the same 2021-2022 bearish fractal, banks’ liquidity being at Credit Suisse crash levels, the YEN being in a strong downtrend against the USD, and Japan (BOJ) being in serious trouble.
The final few indicators are as follows: repo failure, tons of liquidated trading firms from the October 10 crash, tons of liquidated institutions from October 10 crash, Bitcoin respecting the 4-year cycle, stock insiders being into strong selling moves since August, and regional banking crashes. Lastly, he marks the final bearish indicator to be the fact that retail still believes in a bull market and buying dips.
No Room For BTC Bull Recovery
All in all, these many indicators highlighted by Doctor Profit all point to the undeniable path of BTC having entered and sinking into a major bear market downtrend. The analyst says that BTC is certainly moving into a series of average breakdowns, both on the daily and weekly price charts. The signals also confirm the growing liquidity stress in repo markets, the weakening of the Yen, and the notion of Bitcoin entering a bear phase in its 4-year cycle.
While some of the claims, like tons of liquidated institutions and banks’ liquidity at Credit Suisse crash levels, need more specific data, the overall conclusion of the post is that Bitcoin could truly be in the starting phase of a strong bear market, especially after the factual statements made with backing from available technical and liquidity signals. However, it is important to remember that with markets, uncertainty about timing, depth, and future recovery is always volatile.
