Bitcoin Nears Fifth Pivot Point, Analyst Killa Warns of Possible De-Risking

On August 6, well-known analyst Killa said in a post that Bitcoin has rallied early this month as he anticipated, and the asset is now approaching the 'fifth pivot point' — a level he says deserves close attention. Over the past roughly 18 months, taking the opposite side of the prevailing market narrative during this phase has repeatedly captured counter-moves of about 3% to 4%, he noted. If that historical pattern continues to hold, BTC could see some partial de-risking behavior after passing this pivot point. Killa, however, warned that last time price did drop as expected, but because Bitcoin was stuck in a complex range, the move never became a clean one-way decline. Instead, the market kept consolidating until the next pivot point. He said historical tendencies still point toward contrarian trading, but the current environment is complex, with price structure and timing carrying equal weight.