Bitcoin price is under pressure again, as one crypto analyst warns the market could be heading for a sharp correction towards $52,000. According to the analyst, a Head and Shoulders formation has appeared on the chart, a technical pattern often associated with potential trend reversals and downward momentum. The arrangement suggests that if Bearish pressure continues to buildthe leading cryptocurrency could be at risk of a significant near-term crash, which could spark new concerns in the broader market.
Bitcoin price is expected to fall to $52,000
A crypto analyst identified as NoName on warned that Bitcoin could be headed for another price crash near $52,000. The analyst pointed out a head and shoulders pattern which has been forming on the chart since 2024 and continued even after BTC recorded its record high all-time high above $126,000 in October.
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The chart showed that Bitcoin recently experienced a failed breakdown after completing the right shoulder of its H&S formation. After this collapse, the price of BTC started to rise again, with the aim of recovering the $100,000 level.
Interestingly, NoName noted that many traders had turned bullish when Bitcoin started to rise, first starting from the $70,000 mark. However, once the price went towards the psychological resistance level of $82,000BTC was rejected, confirming the underlying weakness in the cryptocurrency’s market trend and structure.
NoName further noted that the combination of broken support and strong resistance points to this Salespeople are still largely in control of the BTC market. The analyst added that Bitcoin’s recent move towards $83,000 may have seemed like a sustained bullish rally to many investors, but it was not a true recovery. Instead, he described it as a temporary pause in price action, which usually precedes further downward pressure.
Datum the current weakness of the market and the ongoing bear market, NoName has predicted that Bitcoin could eventually fall towards $52,000 if the H&S pattern continues to hold. He also warned that if selling pressure increases, Bitcoin could fall even further a final downside of almost $30,000as marked by the red shaded area on the map. At current levels above $76,000, a drop into this area would mean a massive price crash of over 60%.
Analysts share a similar bearish outlook
Bitcoin is facing growing bearish sentiment more analysts predict downside targets for the leading cryptocurrency. Market analyst Chiefy recently shared a bearish view on X, highlighting a recurring four-year cycle pattern on the BTC chart.
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The crypto expert stated that during these historical cyclical periods, BTC had gone through a repeated series of bull phase, distribution, capitulation and cycle bottom. According to the analyst, the current market cycle is now entering the most dangerous phase of that series.
Chiefy noted that Bitcoin is approaching a level where its key support could break. He warned that losing that support could lead to stronger downward pressure more panic selling across the market. As a result, the analyst has predicted a potential drop to $50,000 if the current cycle continues to follow historical patterns. He noted that this region ties into the capitulation phase we saw earlier four-year cycles.
Featured image from Getty Images, chart from Tradingview.com