Bitcoin<\/a><\/strong> has fallen again after reaching a record<\/strong> of $124,500 US<\/strong>. At the time of writing, it’s trading around $119,000 US<\/strong>, and the bulls<\/strong> have once again lost ground. According to one analyst, Bitcoin’s current chart<\/strong> bears a striking resemblance to November 2021<\/strong>, suggesting that the price may be approaching a peak<\/strong>.<\/p>\n\n\n\n “Has anyone else noticed that the price action that led Bitcoin to a peak in 2021 looks exactly like the current action ?”<\/p>\n<\/blockquote>\n\n\n\n Asks renowned trader<\/a> Nebraskangooner<\/strong>. Similar to 2021<\/strong>, Bitcoin<\/a> appears to be heading toward a double top<\/strong>, a signal often interpreted by traders as bearish<\/strong>, signaling a possible trend reversal<\/strong>.<\/p>\n\n\n\n Popular analyst Benjamin Cowen<\/strong> shares this view, emphasizing that Bitcoin charts almost always follow the same pattern<\/strong> after a halving<\/a><\/strong> : Uptrend<\/strong> in July and August, decline<\/strong> in September, cycle peak<\/strong> in the fourth quarter, followed by a bear market<\/strong>.<\/p>\n\n\n\n\n