In 2023, 2024, & 2025, I knew that Bitcoin was in a bull market. Bull markets are uptrends. Uptrends produce HHs & HLs So every time Bitcoin had a pullback, I said it was just an opportunity to produce a higher low and was therefore a buying opportunity. But... We aren't in a bull market anymore. That's what my data & analysis tells me. If you want to disagree, you absolutely can and feel free to take the other side. But here's what I know about bear markets. They are downtrends. Downtrends produce LLs and LHs. That's why I haven't viewed pullbacks as buying opportunities. In bull markets, pullbacks CAN confirm the uptrend. In bear markets, pullbacks DO confirm the downtrend. See the difference? Basic market structure proves this. It's almost so simple that it's hidden in plain sight. So 99% of investors don't even recognize how basic it really is. That's the key -- use basic principles to achieve basic conclusions, while "big brain" analysts focus on niche data and ignore the core fundamentals of aligning with trends. That gap is literally alpha.(Caleb Franzen)