Trader Killa: Historical Extreme Low Formed Under Multiple Bearish Factors; Bitcoin Need Not Repeat Prior Price Action

October 25: Trader Killa posted that unless more negative news emerges, Bitcoin's previous extreme low should not be regarded as a level that is bound to be hit again, and that historical price action will not necessarily simply repeat itself.

Killa further noted that the market currently expects Bitcoin to revisit its prior extreme downside low, but the "liquidation wick" at that time appeared when multiple bearish factors broke out at once, such as the Fed signaling a hawkish pause in rate hikes. Fourth-quarter buyers appear to still be waiting for lower entry prices, and he suggested investors continue to buy BTC via dollar-cost averaging (DCA) over the coming weeks. Bitcoin has now pulled back about 9%, which in his view is already a decent correction within a bull market.