Take a look at this historical chart:

(Source: https://www.tradingview.com/x/O4oTRbJD/)

This is how it continued:

(Source: https://www.tradingview.com/x/yyEmxlYj/)

These charts are BTCUSD at Bitstamp about four years ago. It has happened in a similar way before, a couple of times actually.

Of course, that doesn't mean it's always going to happen that way… just some thoughts.