According to @CryptoMichNL, a new trading update reviews whether a Bitcoin bear market has started, where BTC sits in the market cycle, and what current charts imply for trend direction and risk management, source: @CryptoMichNL on X, Nov 20, 2025; YouTube https://youtu.be/8mEMQFCvdz4. The post directs traders to the video for actionable chart work that may inform BTC spot and derivatives positioning, including cycle context and technical signals, source: @CryptoMichNL on X, Nov 20, 2025; YouTube https://youtu.be/8mEMQFCvdz4. No specific price levels or indicators are disclosed in the post itself; traders should watch the linked update for concrete entries, exits, and invalidation levels, source: @CryptoMichNL on X, Nov 20, 2025; YouTube https://youtu.be/8mEMQFCvdz4.