Add as a preferred source on GoogleTrader Killa Outlines Bitcoin Drop to $42,000-$52,000 if $65,000 Fails
The scenario assumes $57,000 is the current cycle low; Killa said Bitcoin would need to remain above $65,000 under that condition.
Trader Killa outlined a conditional Bitcoin (BTC) drop to $42,000-$52,000 if $65,000 fails, with $57,000 as the assumed current-cycle low and a possible last leg before a bottom forms.
Bitcoin traded at $68,868 at 9:59 a.m. ET Friday (14:59 UTC), down 3.62% over the prior 24 hours. At that snapshot, BTC was above the $65,000 level in Killa's downside scenario.
Killa argued the latest slide does not resemble an ordinary bull-market pullback. He pointed to 2023, when Bitcoin did not move deeply into an imbalance zone even amid capitulation selling. Without a swift V-shaped recovery, he said the current decline could rank among the sharpest price drops in past bottoming periods.
He also described a weekly pattern that would be a first for Bitcoin if the current low fails to become the final bottom: a weekly higher high followed by a move below its previous bear-market low.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.