Crypto Analyst Sounds Alarm, Says Bitcoin Is Nearing 2021 Bull Market Collapse Redux

Pseudonymous analyst Rekt Capital says that Bitcoin BTC/USD is very close to breaking down from a bearish double-top pattern.

What Happened: In a post on X, the crypto analyst said that Bitcoin is forming a bearish pattern last seen just before the crypto king collapsed in late 2021.

Rekt Capital said that Bitcoin is on the verge of confirming its double-top pattern.

According to the analyst, Bitcoin seems to be replicating its price movement from late 2021, a period during which Bitcoin concluded its previous bull market following a breakdown from a double-top pattern.

Also Read: Analyst Who Predicted May 2021 Crypto Crash Now Says Bitcoin Set To Surge To This Price By 2024

The analyst also predicted that Bitcoin will experience one more rebound before eventually undergoing a significant corrective decline and near the $20,000 price range.

At the time of writing, Bitcoin was trading at $25,918.93, down by one percent in the last seven days.

Now Read: Crypto Analyst Confident About Bitcoin's Surge, But There's A Catch

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