ColinTalksCrypto, a well-known analyst in the cryptocurrency world, evaluated Bitcoin’s current price movements and potential future lows in his latest video. Contrary to the general optimism in the market, the analyst painted a rather pessimistic picture, arguing that Bitcoin has not yet reached its true “bottom.”
Colin points out a “Bear Flag” formation on the Bitcoin chart that has been ongoing since October. According to the analyst, the price’s trajectory around the $66,000 level is at a critical threshold. A daily close below this channel could technically trigger a sharp decline.
Based on his analysis of decline rates in past cycles, Colin shared the following striking data:
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