Bitcoin Setup: Bounce Incoming?In his Saturday livestream titled "Crypto Is Bleeding," Mayne said Bitcoin failed to confirm his prior bullish setup because it never delivered the market structure break he needed for execution. That kept him from chasing the latest bounce attempt.Mayne said Bitcoin is now near an area where a bounce makes sense, but he wants confirmation before taking the long side.Still, Bitcoin needs to reclaim last year's low and break its short-term downtrend firstHe laid out three possible setups for a trade on the long side:
A daily swing-failure pattern from current levels
A reclaim of the recent consolidation and last year's low
A safer 12-hour or daily close above the downtrend line, followed by a pullback
