• Analyst explains why expecting a brand new bull market is a big mistake. 
• He says hoping Bitcoin will enter a continued bull run is not supported by the charts.
• The analyst expects only bearish movements ahead.

Despite the price of the pioneer asset, Bitcoin (BTC), falling to new lows today, sentiments for BTC to enter a rally in 2026 continue to hold strong. So far, several financial experts and bullish analysts have been leaning towards the 5-year supercycle theory. In contrast, bearish analysts believe otherwise. One analyst explains why expecting a brand new bull market for Bitcoin would be a big mistake. 

Analyst Explains Why Expecting a Brand New Bull Market Is a Mistake

To begin, the analyst says that it is a big mistake to believe Bitcoin is starting a brand new bull market or that $80,000 is somehow a bottom level that will never be seen again. He also declares that the bullish sentiment that’s being seen is pure hopium and ultimately based purely on what bulls would like to see and not on what charts are showing. He says one should never look at the chart with a bias to defend. 

Instead, he says that one should be able to look at the chart from a neutral point of view, and by doing that now, we can see exactly how bearish Bitcoin is. The chart in the post shared above highlights how Bitcoin is printing a head and shoulders pattern on the weekly timeframe. At the same time, technical and on-chain indicators are extremely bearish, while geopolitical conflicts continue to increase and macroeconomic data continues to worsen. 

He concludes that Bitcoin is extremely bearish in the short-term and mid-term, unlike a few weeks ago when it was bullish short-term and bearish mid-term. Moreover, he mentions how the masses are bullish, which is always a surefire sign that things will turn bearish. Lastly, he mentions his plan to use ALL USDT and USDC within his wallets to short Bitcoin until there is no more room left on the downside.

Declares That Bitcoin Will Head Into a Bear Market

This analyst had flipped bearish on Bitcoin and crypto in early November, and he is now calling for a drop of the same size towards the $64,000 – $70,000 region, meaning this drop will start in the coming weeks from current levels, which is why he considers the $94,000 – $104,000 price range a golden region to short. One of the big reasons behind his flipping short without hesitation in early November was after understanding the 10/10 crash. 

Here, he states that most people forget that the biggest market-making institutions are still bankrupt and in need of liquidating assets, and they are seeing for the first time since we entered the bear market a good opportunity to sell. These institutions hold billions and are set to dump into the market since no one is currently offering favorable OTC deals. This means a massive sell-off is coming, which will weaken the market even further.