An analysis has been raised that the Bitcoin (BTC) chart is showing a flow very similar to the historical peak formation in 2021. In particular, an interpretation emerged that a 'double top' pattern similar to the previous cycle peak in November 2021, when it recorded $69,000 (approximately 959.1 million won), is reappearing on the current chart.
The crypto trader known as 'Nebraskangooner' raised the question on X (formerly Twitter) on the 4th, asking, "Has anyone else noticed that the chart from the 2021 peak looks exactly the same as the current movement?" He shared the double top pattern, which is often cited as a trend reversal signal, and claimed that the current market is showing similar characteristics.
In technical analysis, traders usually compare Bitcoin's past cycles and charts to estimate the peak timing and selling point, and capture the timing to rotate profits into other assets. In fact, many traders pay attention to the pattern similarity with previous cycles for this reason.
However, some argue that it is difficult to explain the overall market with simple chart interpretation. Especially recently, as the demand for crypto companies incorporating Bitcoin as a reserve asset continues to increase, there are criticisms that trend explanation is limited by simple pattern interpretation.
A domestic analyst explained, "Although there was a Bitcoin price crash in 2021, it was sensitive to market liquidity and macro events, so now external variables such as ETF demand and institutional buying sentiment must also be considered."
An analysis also suggests that as Bitcoin-related issues surrounding Trump's presidency become full-scale, political statements are acting as variables affecting price movements, and various variables different from past simple technical patterns are simultaneously intervening.
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