The time to accumulate is during winter, not when the chart says it is safe.
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Bitcoin made a first attempt in 2026 at the $80,000 range. While we are not ruling out another attempt within this rally, low-timeframe charts show price rolling over into a downtrend, making lower lows again.
In this letter we will focus on what happened on-chain during the current bottom formation, revisit and expand our levels to watch, and explain why the low $80s is becoming such an important level.
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