The analyst saw a repetition of the Bitcoin price pattern from 2021.

# Analyst noticed a repeat of the Bitcoin price pattern from 2021

A trader under the pseudonym Nebraskangooner stated that the price chart of the first cryptocurrency is repeating the pattern of November 2021. At that time, 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 peak formation in 2021. The trader pointed to a chart with 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 every year after the halving: a rise in July-August, a fall in September, a peak in the cycle in the fourth quarter, and a subsequent bear market.

However, the trader under the nickname Kale Abe stated that technical analysis does not take into account the current fundamental factors — for example, the growing demand from companies buying 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 against the backdrop of the expected inflows into Ethereum amounting to $25 billion.

In response, Nebraskangooner reminded that altcoins can rise while the first cryptocurrency is correcting or moving sideways. He also cited the multibillion-dollar purchases by Strategy, which did not prevent the price from falling to $16,000. In his opinion, 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.

As of the time of writing, the first cryptocurrency is trading at $119,010. In the last 24 hours, the asset has decreased in value by 2.3%, according to CoinGecko.

Let us remind you that Charles Edwards, the founder of Capriole Investments, estimated the fair value of digital gold at $167,800.

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