Was $74K a bull trap? Bitcoin traders diverge on 2022 crash repeating

3 weeks ago

Bitcoin (BTC) traded 4.5% beneath the $74,000 precocious reached connected Thursday, with traders conflicted implicit whether this level whitethorn person marked the section apical for BTC price.

Key takeaways:

Bitcoin charts inactive amusement similarities to the 2022 carnivore cycle, suggesting different limb down beneath $60,000 is possible.
Others accidental the bottommost is successful and expect a breakout rally to $75,000–$80,000 to beryllium next.

Is the 2022 BTC terms rhythm repeating?

BTC’s existent method structure, pursuing the latest betterment from $60,000, shows similarities with the mediate of past carnivore cycles.

Bitcoin’s latest emergence to $74,000 came 149 days aft its bull marketplace highest of $126,000 reached successful October 2025.

“$BTC made a section precocious astir 140–150 days aft its all-time precocious successful the erstwhile 2 cycles earlier pushing lower,” said expert Bitcoin Hyper successful an X station connected Thursday.

Echoing this view, pseudonymous trader Bitcoin Isaiah called the rally to $74,000 a "perfect section apical indicator," pointing to premature celebrations by the bulls arsenic a awesome for further dumping.

The expert referred to the 2022 cycle, erstwhile akin euphoria preceded a 68% clang from $48,200 to $15,500, suggesting that past could repetition with a revisit to sub-$60,000 levels.

Master of Crypto said that the little pump supra $70,000 was a liquidity trap, wiping retired some shorts and longs earlier targeting little zones betwixt $62,000-$65,000 wherever much ask-orders are located, adding:

“The terms usually goes wherever the bigger wealth sits.”

As Cointelegraph reported, signs of a pullback emerged this week aft the rally to $74,000, namely a classical bearish illustration pattern and major overhead resistance.

Is Bitcoin’s alleviation rally over?

The bulls, however, reason that $60,000 was the apt marketplace bottom, marking a structural shift.

For example, crypto expert Bitcoin Munger said the 2022 Bitcoin carnivore fractal was not a “reason to beryllium bearish” due to the fact that this rhythm is different.

An accompanying illustration showed that portion the 2022 drawdown saw the terms “cut through” the 200-week exponential moving mean (EMA), the existent lone retested the inclination enactment and bounced.

Cryptocurrencies, Bitcoin Price, Markets, Price Analysis, Market Analysis

Meanwhile, expert Mister Crypto says the BTC/USD brace is breaking retired of an ascending triangle with the anticipation of a “strong determination to the upside,” if the precocious inclination enactment astatine $70,000 holds arsenic support.

Other differences from the 2022 rhythm see strong organization ETF inflows and tightening supply, which whitethorn assistance Bitcoin debar different clang and set it up for a rally to $75,000-$80,000.

This nonfiction does not incorporate concern proposal oregon recommendations. Every concern and trading determination involves risk, and readers should behaviour their ain probe erstwhile making a decision. While we strive to supply close and timely information, Cointelegraph does not warrant the accuracy, completeness, oregon reliability of immoderate accusation successful this article. This nonfiction whitethorn incorporate forward-looking statements that are taxable to risks and uncertainties. Cointelegraph volition not beryllium liable for immoderate nonaccomplishment oregon harm arising from your reliance connected this information.

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