The Milk Road Show 2021 All Over Again? The 55% Bitcoin Drop That Preceded New Highs w/ Scott Melker
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Feb 10, 2026 Scott Melker, crypto trader and podcaster known as The Wolf of All Streets, gives a market-read on whether Bitcoin has bottomed. He walks through weekly moving averages, RSI signals, and a 55% drawdown parallel to 2021. Short takes on DCA buying, Ethereum scaling, Solana’s speed, stablecoins as payments, tokenized real-world assets, and why sentiment often flips before price.
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Weekly Chart Signals Point To A Basing Period
- Weekly technicals suggest we may be bottoming due to oversold RSI and 50/200 MA behavior.
- That base could take 150–250 days of chop before a sustained rally, Scott Melker explains.
Automate Dollar-Cost Averaging For Bitcoin
- Dollar-cost average into Bitcoin using an automated plan and ignore short-term noise.
- Treat Bitcoin as a long-term savings allocation and add more on significant dips, Scott Melker advises.
Deep Retraces Can Still Be Part Of A Bull Cycle
- A 50–55% drawdown can occur mid-cycle and still precede a new all-time high.
- Melker compares the current retrace to 2021's 55% drop that preceded a major rally.