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A Valid Deep Bitcoin Bear Signal
From the quarterly candlestick chart, Bitcoin exhibits a classic Evening Star pattern, which is also a typical trend reversal signal. The appearance of an Evening Star at the quarterly candlestick level clearly indicates a transition between bull and bear cycles.
From the perspective of price-volume relationship, the volume of the right-side bearish candle is significantly higher than that of the left-side bullish candle, indicating that selling pressure has clearly overwhelmed buying pressure. The volume and price performance further reinforce the credibility of the trend reversal.
Therefore, the likelihood of Bitcoin continuing to decline deeply is much higher than that of a rebound, and the probability of Bitcoin being in a deep bear market is also much higher than in a shallow bear market.