Was The Bitcoin Rally Just A Pullback In A Larger Downtrend?Bitcoin / TetherUSBINANCE:BTCUSDTDukesMarketAnalysisSupport Giving Way • Bitcoin has now broken below the 0.382 Fib level around $74,100 with little evidence of buyers stepping in • Recent support levels have been lost quickly, highlighting the strength of the current selling pressure Trend Still Bearish • The 100/50-Day EMAs remain bearishly crossed and continue acting as overhead resistance • Until those moving averages are reclaimed, the primary trend still points lower Momentum Favours Further Weakness • RSI remains below 50 and has not yet reached deeply oversold territory • StochRSI has struggled to recover from oversold conditions, reflecting persistent bearish momentum Cycle Theory Aligns With Bears • Those expecting a cycle low around October will likely view the current weakness as evidence that further downside remains ahead • If the recent high at $82,850 was merely a bear market rally, a retest of significantly lower levels becomes a realistic possibility In Summary Bitcoin is starting to look increasingly vulnerable after slicing through support levels with very little resistance from buyers. The break below the 0.382 Fib, combined with bearishly crossed moving averages, weakening momentum and rising selling volume, strengthens the argument that the recent move to $82,850 may have been a counter-trend rally rather than the start of a new bull phase. For those targeting a cycle low later in the year, the current price action continues to support the case for further downside.