What Bitcoin Did Bitcoin Crashed. What Comes Next? | Joe Consorti
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Feb 9, 2026 Joe Consorti, market analyst and Head of Growth at Horizon, breaks down a major Bitcoin sell-off and its macro drivers. He explains why the move was driven by credit spreads, dollar strength, and shifting risk appetite. Topics include ETF flow behavior, comparisons with gold, who might be forced sellers, and where prices could consolidate next.
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Watch $58k And $40k Support Levels
- Key technical support levels: 200-week MA around $58k and long-term holder cost basis near $40k.
- Expect consolidation around $58k; a break could push price toward $40k.
Consolidation Is More Likely Than V-Shaped Rips
- V-shaped recoveries are possible but less sustainable than long consolidation.
- Bitcoin typically revisits air-pocket zones and spends time consolidating there before durable moves.
Confirm Bottoms With Price-RSI Divergence
- Use RSI structure to confirm bottoms: a lower low in price with a higher low in RSI suggests exhaustion.
- Don't rely solely on oversold readings; watch price-RSI divergence for confirmation.