Отмечены аналогии в ценовом поведении биткоина с рекордами 2021 года Analyst Highlights Parallels in Bitcoins Price Behavior with 2021 Records

A trader using the alias Nebraskangooner stated that the price chart of Bitcoin mirrors the pattern observed in November 2021, when the asset reached an all-time high of $69,000.

According to Nebraskangooner, the current price movement «looks exactly the same» as it did during the peak formation in 2021. The trader pointed to a chart displaying the «double top» pattern, which is considered a bearish signal.

Analyst Benjamin Cowen confirmed this observation.

He suggested that Bitcoin follows a similar scenario every year after the halving: a rise in July-August, a decline in September, reaching a peak in the fourth quarter, and then entering a bear market.

However, another trader known as Kale Abe argued that technical analysis does not take into account the current fundamental factors, such as the increasing demand from companies buying cryptocurrencies to hold in reserves.

«We’ve witnessed Bitcoin pulling back or moving sideways before, while altcoins have surged. Both situations can coexist. It’s essential to note the key resistance level BTC is currently testing, as we’ve monitored this for months prior to reaching this point, and it holds significant importance now.»

He is confident that Bitcoin will not enter a bearish trend amid anticipated inflows into Ethereum amounting to $25 billion.

In response, Nebraskangooner reminded that altcoins can rise even while the leading cryptocurrency is correcting or moving sideways. He cited the example of multi-billion dollar purchases made by Strategy, which did not prevent the price from falling to $16,000. In his view, the arrival of «big money» does not guarantee growth.

Nebraskangooner emphasized that his primary aim is to highlight the critical resistance level that Bitcoin is currently testing.

At the time of writing, the leading cryptocurrency is trading at $119,010. Over the past 24 hours, the asset has decreased by 2.3%, according to CoinGecko.

It’s worth noting that Charles Edwards, founder of Capriole Investments, assessed the fair value of digital gold at $167,800.

Later, analyst and founder of MN Trading, Michael van de Poppe, warned of a possible correction for Bitcoin below $117,000.