Analysis: Bitcoin may be repeating the pattern that emerged at the end of the Bitcoin bull market in 2021 Golden Finance reports that traders warn that Bitcoin may be repeating the pattern that emerged at the end of the Bitcoin bull market in 2021. Cryptocurrency trader Cheds said that Bitcoin's rise to a historic high last week and subsequent sell-off could be an ominous signal for investors. Cheds believes that Bitcoin is showing a "failed uptrend" pattern - widely seen as a bull market trap, indicating market weakness and potential trend reversal. When the price breaks through the resistance level and then falls back, and fails to hold that position, it forms a failed upward trend. In addition, we also see the 'external daily K-line'. It's the huge red candlestick on August 14th