Trader Killa: This BTC Decline Could Be More Brutal Than Previous Bull Market Corrections, Losing $65K Could Send It to $42K

Odaily reports: Trader Killa posted on X platform stating that if Bitcoin's bottom this cycle is $57,000, the severity of this decline could be more brutal than previous bull market corrections. In 2023, even during periods of capitulation-style selling, Bitcoin's price never deeply reached the imbalance zone. Therefore, unless the market rapidly V-shaped rebounds from current levels, this correction could become one of the most severe drops in price action terms among previous bottom formations. If $57,000 is confirmed as the bottom of this cycle, Bitcoin must subsequently hold above $65,000; if it fails to hold, it could further probe the $42,000 to $52,000 range, which may become the final decline before a true bottom is formed.

Killa believes that the market should not simply view this correction as a typical bull market adjustment—its price performance is actually more severe. If the current low is not the final bottom, then Bitcoin would for the first time see a weekly higher high (HH) followed by a break below the previous bear market low.