Prominent Trader: Once Bitcoin Breaks Long-Term Downtrend Line, Never Short

BlockBeats News, August 7th - Renowned trader Killa posted a message stating that when Bitcoin breaks above the current long-term downtrend line, one should not go short, "Many people in the previous cycle overcomplicated a simple trend reversal, and the weekly chart is the best confirmation signal."

His chart displayed the Bitcoin weekly charts for 2026, 2022, and 2018, all showing similar high-to-down channel patterns, used to analogize the current market structure.

Killa, as a BTC-focused quantitative trader, predicted the peak of this bull market in May 2025, boasting over 200,000 followers on Platform X. In mid-April, he shorted Bitcoin at $74,688 and switched to a long position during the market-wide downturn on June 5th.