Bitcoin’s price action looks dangerously similar to the pattern that sent it crashing to $60,000

The recent price action echoes the November–January pattern, showing weak conviction among the “buy the dip” crowd. What to know : Bitcoin’s recent price action is mirroring a November–January pattern that preceded a sharp drop from about $90,000 to nearly $60,000. The current counter-trend recovery, a weak, choppy bounce within a broader downtrend suggests that the buy-the-dip crowd lacks strength. A break below the bottom of the latest trading range could deepen the sell-off.