A crypto trader says Bitcoin is at a “key resistance” similar to the level where it topped in 2021, but other traders argue historical charts can’t be applied to this cycle.
Bitcoin’s price chart is starting to mimic the same pattern it did when it reached the previous cycle’s all-time high of $69,000 in November 2021, according to a crypto trader.
However, other traders argue that charts don’t tell the full story anymore with mounting demand for Bitcoin (BTC) from crypto treasury companies.
Technical analysts often compare Bitcoin’s price chart to similar patterns in past cycles to see when the price might peak, when to sell, and when money could start rotating into other assets.
