This week $BTC drops: Is history repeating a scene from June 2022?

Observing this week's #Bitcoin trend, it is surprisingly similar to the market bottom in June 2022:

RSI indicator: Similarly dropped into a deep oversold area.

Price trend: Also broke through key Fibonacci support levels.

Looking back at 2022, the panic at that time did not end the entire cycle, but instead opened a long accumulation phase.

If history repeats itself, #BTC may next enter the range of 60K – 90K for a 3-5 month consolidation period, building strength for the next big market movement.

Is it panic selling, or patient positioning? History always provides clues.

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BTCUSDT

Perp

70,350.7

-0.17%