Bitcoin Analyst Warns of Almost 50% Crash Ahead as Bull Trap Unfolds

A cryptocurrency analyst has identified a pattern of bear cycle stepping stones in Bitcoin's price action, which he believes indicates that the current recovery is not a sustainable trend.

The analyst points out that Bitcoin's price sequence is mirroring key stepping stones from the 2022 bear market, with a series of lower highs and lower lows dressed up as recoveries on the weekly candlestick timeframe chart.

He warns that the current rebound to the $80,000 range is not the start of a lasting breakout, but rather the largest bull trap of the cycle. The analyst predicts that Bitcoin will crash by almost 50% from its current level to $42,000.