As discussions about Bitcoin’s potential bottom in the cryptocurrency markets reignite, traders continue to evaluate critical price ranges through various scenarios. Killa, a trader known for his quantitative analysis, shared his noteworthy bottom predictions for a Bitcoin bear market.
According to Killa’s analysis, potential bottoms for Bitcoin are around $38,800. However, adding a 5% margin of error to his model, he predicts the bottom could be between $40,740 and $42,680. These predictions fall considerably short of the $60,000 level frequently mentioned by the market. Therefore, Killa describes the $60,000 level as a “quite optimistic bottom scenario.”
The analyst also highlighted past prediction performance. Killa, who previously predicted the peak of the Bitcoin bull market at $121,362 using a combination of “decreasing return cycle, pattern analysis, and mathematical modeling,” had a prediction that came very close to the actual peak of $126,100.
On the other hand, Killa emphasized that, from a technical perspective, Bitcoin is testing a significant structural zone. He noted that the area where the wick peak in February and the opening level from the same period converge is critical, and stated that if the price falls below $60,000 in the coming months, this zone should not be reclaimed on a monthly basis.
Killa also commented on short-term price movements, saying that volatility could increase due to the upcoming monthly close, leading to misleading price movements. He noted that if May starts strongly, it could form a “pivot top,” after which the downtrend could continue. According to the analyst, in broader macroeconomic downtrends, breaking through significant resistance levels doesn’t always mean a sustained rise and could create traps for late investors.
*This is not investment advice.
