The analyst noted that breakouts usually form macro lower highs during a downtrend. He emphasized that these price rallies can appear strong at first, but they usually don’t last and tend to set the stage for the next downward move.
Backing this up, Ardi pointed to Bitcoin’s price action in 2018 and 2022 as a clear example. After reaching all-time highs in both years, the market entered a steady decline, creating a series of lower highs. He noted that in both bear market cycles, there were approximately five relief rallies.
Analyst Reveals What Actually Confirms A Bottom The crypto analyst also outlined specific levels that Bitcoin would need to reclaim before he would consider a bottom and a subsequent bullish shift. He noted that the cryptocurrency would have to move above $85,000 and then surpass $96,000 by more than 3% to indicate a genuine change in momentum.
