Last week in BVL061, we said something eventually had to give. It did, and decisively.
After weeks trapped in an increasingly compressed range, Bitcoin finally broke the stalemate with extraordinary force. Bears who had repeatedly challenged the structure were swept aside as price escaped the battlefield that had contained it for most of the summer. But escaping the range was only one part of the story.
Bear markets are full of powerful rallies, short squeezes and moments when the worst suddenly appears to be over. What separates those temporary explosions from a structural change is not how quickly price moves, but what the market builds after the dust settles.
That is where the crucial part begins: is this simply another bear-market rally that could eventually evolve into a bull trap? Or has Bitcoin finally built the cycle bottom we have spent months waiting for?
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