$BTC is warning that the market is still making that same mistake, and, according to them, the chart proves it three times.
Bitcoin has just broken down below $63K. Most people see red and assume the worst has already been priced in.
In the view of this expert, since the $126K high, the price has fallen from the same bearish channel three times, at 83K and 65K, with each decline weakening compared to the last.
Their take is that a real breakdown happened once before, near 60K, right before the price fell to 30K.
A more detailed timeline:
- $30K to $40K, the low, from December to January
- $8