Bitcoin Bear Market Thesis at 60KBitcoin / U.S. dollarBITSTAMP:BTCUSDCrypto_Princess_MediaBitcoin has lost the 200-week SMA, which historically has been a major support level during bear markets. Bitcoin is currently holding the 0.382 Fibonacci level. If this level fails, the next major historical support is the Realised Price. Conclusion: My thesis remains that Bitcoin will fall to the 0.236 Fibonacci level. Based on historical data, Bitcoin could temporarily trade below that level before recovering. Invalidation: A reclaim of the 0.618–0.65 golden pocket. Disclaimer: NFA | DYOR