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Bitcoin is falling toward the True Market Mean (blue line).
Historically, every time the price touches this line, significant market bottoms are formed. In 2018 and 2022, we marked lows exactly there.
The AVIV Ratio (upper yellow line) is turning down from highs. This indicates we are entering a zone of maximum pain and capitulation.
When the price touches the True Market Mean with the AVIV Ratio dropping from these levels, macro bottoms have historically formed.
We are at the last support before losing the structure completely.