Bitcoin’s price has suffered quite a bit since the end of March, losing over $15,000 in this period.
However, it all changed when the asset initiated two massive weekly leg ups that resulted in nearing $50,000.
Yet, what comes up must go down, as the saying goes.
And it has closed with red weekly candles six times in a row for the first time since 2014.
Indeed, BTC had soared by nearly 100x since the halving to the local peak at above $1,100 before it started its not-so-gradual descent.
Despite breaking the adverse streak with a substantial green candle, bitcoin dumped further in the following several weeks back then.
As such, if the resemblances continue now as well, it would be safe to prepare for another nosedive.