There's lots of fundamental and technical reasons why many think $20K was the bottom. See below for why it might now be...



Source: https://cointelegraph.com/news/cheaper-than-it-looks-fidelity-exec-says-btc-undervalued-and-oversold



Source: Weekly RSI



https://www.blockchaincenter.net/en/bitcoin-rainbow-chart/

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One reason why it might not be... price has only just entered the capitulation zone.



Source: https://www.lookintobitcoin.com/charts/relative-unrealized-profit--loss/

Here's another way to look at that metric.



Source: https://www.lookintobitcoin.com/charts/realized-price/

Currently staying neutral until the end of the week