I think the near term lows are in and Bitcoin is likely to bounce from here...

It's been a brutal 7 weeks, but we are due for some relief.

I fully expect the lows to be in for bitcoin in the near term and a bounce to at least the $36k area is in the cards...

Possibly a move all the way to the roughly $38k-$40k area based on the 4h chart above.

If the lows break the bullish thesis is invalidated.

Once this bounce is over though, I don't feel completely confident in saying the ultimate lows are in for this bear market.

It's very possible and probably likely we end up making lower lows later this year.

I fully expect further bullish price action in the near term