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

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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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