Analyst: Bitcoin's current sell-off is primarily driven by leverage liquidation, suggesting to "buy in panic."

BlockBeats news, November 15 - Wellington-Altus strategy analyst James E. Thorne stated in a post that Bitcoin's "head and shoulders bottom" pattern remains intact, with the left shoulder near $59,000, the head near $57,000, and the right shoulder currently forming.

He believes this round of selling is primarily driven by the liquidation of leveraged positions rather than deteriorating fundamentals, and buying during panic. Bitcoin next needs to first reclaim $73,000, then break through $87,000, to confirm this pattern.

If the pattern is confirmed, Thorne sees a mid-2027 target of $117,000, and expects Bitcoin to subsequently break through its all-time high of $126,000, with a year-end target of $150,000 to $170,000. If Bitcoin falls below $57,000, the above judgment would be invalidated.