Bitcoin - Is Bitcoin Going For Another Lower High?
Seller exhaustion precede local bottoms and new relief rallies
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Is Bitcoin's Sell-Off Running Out of Steam?
Last week, before this move played out, I posted a tweet describing Seller Exhaustion during the latest bout of Bearish Acceleration.
The demand area held and the rebound came. You can read the full tweet here.
Seller Exhaustion is effectively a seller volume bar that is pronounced relative to history, and especially relative to the blue 20 moving average superimposed on volume.
Extreme volume bars of this nature typically precede a trend reversal in the opposite direction.
What history has shown us in this Bear Market is that crashes on high seller volume have preceded temporary local bottoms.
Those bottoms didn't mark the end of the downtrend.
They kickstarted limited relief before additional macro downside followed over time.
The $60,000 historical demand area (purple horizontal) is where this Seller Exhaustion has occurred and a rebound from here makes sense, but only in the capacity of relief.
And that relief rally has the goal of developing yet another Lower High in what has been a multi-month sequence of Macro Lower Highs.
June Sets the Table. July Delivers the Answer.
We are currently rebounding from the purple 50-month EMA, though price is still slightly slinking below it.
This is mid-month, so some meandering in and around this region is to be expected.
The 50-month EMA is confluent with the February 2026 lows, marked here by the red box.
That confluence makes the zone meaningful.
It is not just a moving average. It is a layered structure, and price is pressing against it right now.
If a Lower High forms on the Weekly this week, there are still two weeks remaining for price to drop lower and Monthly Close beneath this level.
If however price action Monthly Closes above the 50-Month EMA, then July could be the month that offers the latest Lower High for Bitcoin.