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Bitcoin's current technical readings are flashing signals we haven't seen in years. The oversold levels right now? They're matching only two other moments in recent history—the March 2020 pandemic meltdown and the catastrophic Luna-Three Arrows Capital implosion in 2022.
Think about that for a second. We're talking about conditions that previously coincided with genuine market capitulation events. Back during the COVID crash, BTC plunged from $9k to $3.8k in days. The Luna-3AC episode triggered a cascade that wiped out billions and took months to recover from.
Now the indicators are screaming similar levels of exhaustion. Whether this becomes another legendary bottom or just a temporary oversold bounce—that's the million-dollar question every trader's wrestling with right now.