I AM THE BULL THAT REMAINS - Bitcoin Update (12H)Bitcoin / TetherUSBINANCE:BTCUSDTvs_sayinFUD news is spreading, liquidations are a bloodbath, the Fear and Greed Index is at a record low, and everyone is in total chaos. EXACTLY WHAT WE NEEDED. I will defend Bitcoin's current structure as long as the lowest point of this run remains in place. As long as the price is above $58,000, Bitcoin goes UP.The last two weeks' movement caused more than $10 BILLION in liquidations. That's more than enough. There is no exchange on earth that will favor free short positions any longer. Let's see what we have step by step: 1: -20% in three days. The direction is not going to matter in this situation; if you see Bitcoin move up or down 20% in a very short term, especially around weekends, expect a reversal. Anyone who wanted to buy Bitcoin and found the price too high before is already in. At the same time, anyone who believes key levels are already broken and is building up short positions even further will be destroyed in a couple of days. 2: Even if I'm wrong: Even if I was wrong and the entire structure is part of a larger correction to the downside, we MUST see a rebound right from here, or from just a little bit lower (near $60K). 3: TRUST THE CHART YOU BUILD: I'm a wave analyst. I believe the entire technical analysis field is a religion full of different doctrines. According to Elliott Wave Theory, as long as $58,000 remains in place, this entire structure is still a Wave 2 of 5. If this level is broken, I will admit that I was wrong. 4: Technical Situation: Examine the RSI (Bitcoin 12H): As you can see, there is no clear divergence yet. This means the price might actually go down for one last time even in the best-case scenario. Divergences are important for buyers and sellers to measure their strength. Currently, sellers are still strong, which is why you see a white curved path on the main chart. If the price goes deeper, we should look for a divergence to form on all indicators. 5: Side Effects: The chart you see is USDT dominance. It's currently in a supply area. I also analyzed it a few days ago. We were expecting a move to the upside before the main downfall began. It happened, but way faster than we anticipated. For that, I'm sorry. That was not something we could measure earlier due to the nature of price action and fundamental factors such as news and economic data. 6: Conclusion: There are only 3 scenarios remaining: (1) Bitcoin rebounds right from here with V-shaped price action, and everything becomes crystal clear. (I'd give it a 30% chance). (2) Bitcoin rebounds a little bit further toward 70–72K to form an inner wave 4. In this case, Bitcoin goes even deeper toward 60K to form a divergence within the waves, and we see a weak sub-wave 5—which still means an absolute bull run. (Let's say most likely, 50%). (3) The price goes below $58K. In this case, you're still going to see a rebound of at least 5K to 10K to the upside. It will be a retest before the real bloodbath. Let's face it, none of us wants that. Even if the price touches that $58K zone, the entire structure goes to invalidation. We can't count that as an "anomaly." That means 44K to 40K is on the table in that case. I don't want to believe it for the moment. I believe in Bitcoin. That doesn't mean I trust the market. Keep your liquidations below the key levels.