Crypto Analyst Warns of Bitcoin Bull Trap and Predicts 50% Crash

A recent analysis by crypto expert Chiefy has identified a concerning pattern in Bitcoin's price action. According to the analyst, the current recovery is not a new beginning, but rather a familiar ending that resembles the 2022 bear market.

The framework used by Chiefy identifies a series of lower highs and lower lows dressed up as recoveries on the weekly chart. This pattern is similar to the step-by-step decline seen in the 2022 bear market.

Bitcoin's price action since breaking above $82,000 has been compared to this bear cycle. The analyst notes that the current rebound to the $80,000 range is not a lasting breakout, but rather the largest bull trap of the cycle.