Trader Killa says Bitcoin's market structure differs from the 2023 year, and remains bullish toward the 90000 USD

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Well-known trader: The current Bitcoin trend differs from 2023 years ago, and remains bullish toward the 90000 USD range

BlockBeats reported that September 30, well-known trader Killa posted that the market is currently drawing comparisons between Bitcoin's trend and the 2023 rebound to 25,000 USD followed by a pullback, but the market structures differ significantly. 2023 year,BTC formed equal highs only near 25,000 USD, failing to close effectively above that level before rapidly pulling back.

By contrast,BTC has now formed a higher high on the weekly timeframe and is consolidating above the previous high from before the breakout. In addition, the maximum drawdown in the previous bear market was approximately 77%, compared with approximately 54%in the current cycle. Killa believes that, taking diminishing returns and the progressively narrowing pullback range into account, the major corrections in this bull market may be closer to 10%to 15%, corresponding to approximately 78,000 USD and 74,000 USD, respectively.

Killa said that even if the price repeats a similar trend, it may not break significantly below the previous low as it did in 2023 year. Open interest has now been reset, while the price remains above the previous high; in his view, the market structure is relatively healthy. He has not positioned for a major pullback and continues to target the 90,000 USD range.

Original link https://m.theblockbeats.info/flash/369670

Key points

BlockBeats relayed trader Killa's statement that the current Bitcoin trend differs from the 2023 rebound to 25,000 USD followed by a pullback.
2023 year,BTC formed equal highs near 25,000 USD, failing to close effectively above that level before rapidly pulling back.
Killa stated that BTC has formed a higher high on the weekly timeframe and is consolidating above the previous high following the breakout.
The article stated that the maximum drawdown in the previous bear market was approximately 77%, compared with approximately 54%。
Killa believes the main correction in this bull market may approach 10%to 15%, corresponding to approximately 78,000 USD and 74,000 USD。
Killa said open interest has been reset, while the price remains above its previous high and is targeting 90,000 USD range.

AI-assisted interpretation

The following is analysis, separate from reported facts. Verify important claims independently.

This is a paraphrase of a trader's view. Killa believes that Bitcoin's current price structure and the extent of the retracement differ from 2023 year, so he expects the main retracement to be smaller and continues to target the 90,000 USD range.

Why it matters to readers

This provides a market view on Bitcoin’s trend, the size of the pullback, and the target price, but does not by itself prove that the price will necessarily move in that direction.

“Higher high” in the text refers to a price high above the previous high; “retracement” refers to a decline in price from a high; “open interest” refers to the number of contracts that have not yet been closed.

Risks and unknowns

Killa’s price outlook and market-structure analysis are personal opinions, and the evidence does not provide independent data to verify them.
The evidence does not specify 90,000 USD the timeframe for achieving the target.
Evidence has not confirmed whether Bitcoin will remain above the previous breakout level or whether the actual pullback magnitude will be 10% to 15%。

Trader Killa says Bitcoin's market structure differs from the 2023 year, and remains bullish toward the 90000 USD

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