Ladies and gentlemen, prepare your wallets!Bitcoin / TetherUS PERPETUAL CONTRACTBINANCE:BTCUSDT.PPrinciplesofmathprobSince day one here, when I started posting in March, I said that crypto was going down. In fact, the bearish pitchfork is a very good description of what is happening, to the point that the recent pullback to the upside topped out exactly at the center. What do we do now? There are ZERO bullish signs in this market. Zero. You have to wait for something positive before buying, at least that's how I trade. A first bearish target to complete would be to wipe out everyone who has their stops below the August 2024 lows. That is around 48k. After that, I would wait for some kind of bounce or signal that, ideally, starts breaking structure to the upside. There are people buying without any bullish signals, averaging down, that's fine, but I think SOMETHING bullish is necessary before entering. Possibilities: Breaking above a previous high on the left side of the chart Starting to break above highs created on the right side of the chart Bouncing to the upside off some support level Breaking to the upside out of some trendline Until that happens, for me at least, let them keep wiping people out. Only after there is a bullish structure will I look for longer-term longs.