$BTC
In the end, it was the exact same pattern that played out three separate times throughout this cycle.
Price formed a range where we saw at least 2-3 months of sideways price action before BTC eventually broke above the highs.
This is where buyers got baited into a false breakout before we saw the next larger leg down.
What's interesting is that every deviation above the range highs was followed by a rejection back into the range, completely invalidating the breakout.
We're now seeing the same thing for the third time.
Price failed to hold above the range highs, re-entered the range, and has already started accelerating to the downside.
The previous two deviations both marked the beginning of a much larger correction. So if this pattern continues to play out as it did before, the current selloff may only be the beginning.