As we can see, in the past, BTCUSD
has retested downtrend channels after initially breaking out. Given that human psychology is no different to what it was in 2015, this could indicate that it is within the realm of possibility that a sharp
stick might print that would allow us to reconfirm the breaking of the downtrend channel
in order to bring some bullish
momentum back into the market. Of course, we have to remember as well that times have-a-changed, and the market is more sophisticated. Nevertheless, psychology remains.