A trader of venerable age (30 years in markets! Can he still see the screen? Who knows?), Bob Loukas, author of the 60-day cycle theory for BTC (a theory so daring it makes astrology seem empirical), has once again bestowed his wisdom upon the crypto masses. His latest chart analysis, released Monday, is a masterclass in optimism’s antithesis. While the weekend’s bullish forecasts flooded the internet like a particularly aggressive meme, Mr. Loukas’s outlook is as cheerful as a tax audit. He deems Bitcoin’s weekly chart “horrendous” and suggests it resembles “a chandelier suspended by dental floss.” His target? A quaint $49,000 per BTC. One wonders if he’s pricing it by candlelight.
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To those who dare cite the “business cycle indicator” in replies, Loukas retorts that it is, in his esteemed opinion, “the biggest cope in crypto.” A cope! As if the entire industry were a high school drama club. He further dismisses the notion of a halving-induced rally, declaring it “as relevant as a screen door on a submarine.” The halving, he insists, has no connection to Bitcoin’s current price action. One might infer he’s never heard of seasonality-or perhaps he simply prefers to pretend.
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As deeply oversold as Bitcoin is, this weekly chart remains horrendous and from a purely visual perspective, feels like it’s hanging on by a thread and readying for another big leg lower.
– Bob Loukas 🗽 (@BobLoukas) March 2, 2026
Loukas, ever the contrarian, concedes that early 2026 saw a flurry of capital inflows due to ETFs, pro-crypto governments, and regulatory “clarifications” (a euphemism for “we changed our minds”). Yet, beneath this veneer of progress, he insists we remain “in a bear cycle.” A bear cycle! As if markets were governed by astrology and the whims of Twitter polls.
Currently, Bitcoin languishes 25% shy of Loukas’s target. Should his prophecy materialize, the coin would plummet over 60% from its October 2025 peak-a decline so steep it would make Mount Doom blush. Yet, in a stunning twist of market schizophrenia, Loukas claims he’s “still long core positions in stocks.” Stocks! Because nothing says “contrarian genius” like betting on equities while crypto burns. He cites Bollinger Bands tightening like a corset, implying a breakdown. Or perhaps a breakdown in logic?
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2026-03-02 19:00