The last hopium level of Bitcoin By my analysis the bullish trend for Bitcoin (and so follows all crypto) was broken by the breach and certain close below of the full bull trend's 50% Retracement Level. I have seen a littany of "Mayer Multiple", "Fear and Greed Index", and "On-Chain Analysis" posts and tweets float to the top of social media sharing in an effort to confirmation bias a possible bottom but my thesis has remained unchanged since November 2021 that crypto failed a breakout higher and is entering a bearish winter that could last through 2023 and well into prices in the teens. There remains one final level of support to which Bitcoin (and Ethereum ) are flirting which is for price to hold the lows of summer 2021. A weekly closing bar below that range should eliminate all hope that the current prices are a local bottom.