Analyst Identifies Bitcoin Price Pattern Resembling 2021

A trader known as Nebraskangooner has claimed that the price chart of the leading cryptocurrency is mirroring the pattern from November 2021, when the asset reached an all-time high of $69,000.

#Bitcoin

Has anyone else noticed that the topping price action in 2021 looks EXACTLY the same as current price action??

Top Goon X also gave a sell approaching alert at the same spot and we’re hitting the exact same fibonacci resistance. 😱 pic.twitter.com/46TUMqNvqH

— Nebraskangooner (@Nebraskangooner) August 14, 2025

According to Nebraskangooner, the current price dynamics “look exactly the same” as during the 2021 peak formation. The trader pointed to a “double top” pattern, which is considered a bearish signal.

Analyst Benjamin Cowen confirmed this observation.

Admittedly, there is a lot going on with this chart.

But if you look carefully at it, you’ll see that #Bitcoin prints the same pattern each post-halving year.

Up in July-Aug
Down in Sep
Up into the market cycle top in Q4
Bear Market pic.twitter.com/k2VmXW0vJx

— Benjamin Cowen (@intocryptoverse) August 11, 2025

He suggested that Bitcoin follows the same scenario each post-halving year: rising in July-August, falling in September, reaching the cycle peak in the fourth quarter, followed by a bear market.

However, a trader by the name of Kale Abe argued that technical analysis does not account for current fundamental factors, such as the increasing demand from companies purchasing cryptocurrencies for reserves.

We’ve seen Bitcoin pull back and or go sideways before and altcoins have ran. So both things can be true. Really just worth noting the key resistance that BTC is at right now as we’ve been monitoring this level for months now before we even got here and it’s showed importance now

— Nebraskangooner (@Nebraskangooner) August 14, 2025

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

In response, Nebraskangooner reminded that altcoins can rise while the leading cryptocurrency corrects or moves sideways. He also cited multi-billion dollar purchases by Strategy that 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 main goal is to draw attention to the key 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 depreciated by 2.3%, according to CoinGecko.

Earlier, Capriole Investments founder Charles Edwards estimated the fair value of digital gold at $167,800. 

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