It's hard not to notice the similarities with previous bottoming cycles compared to now...

Bitcoin may be putting in the bear market bottom very soon here.

While the time frame is certainly shorter this time around, the overall pattern is very close to the same.

Check this out:

(Source: https://twitter.com/StockmoneyL/status/1587041190284648448/photo/1)

We had a long drawdown followed by a plunge... which was then followed by a rounding double bottom before starting the next move higher.

Will history repeat again?

I have no idea, but it's hard to argue with the setup...

We are entering a strong period of the year seasonally which should help put some wind at our back as long as the FED doesn't get too hawkish and lets things breath a little.