Trader Killa: BTC's current decline may be more severe than previous bull market corrections, losing $65,000 could see a drop to $42,000

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

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 will for the first time see a weekly higher high (HH) followed by a break below the previous bear market low.