Alan Santana highlights a potential market correction for Bitcoin, drawing comparisons to price patterns in 2021.
Over 320,000 active Bitcoin addresses interact near its previous all-time high, signaling strong holder sentiment.
Popular trader Alan Santana’s recent analysis on TradingView shows an interesting trend for Bitcoin, making connections between its price swings in 2021 and the present activity in October 2024. Santana notes that the sessions or candles in April and November 2021 tracked a similar trajectory to what is currently developing.
October 2024’s pattern looks to reflect those of past times, thereby indicating perhaps another significant change in the market.
Bitcoin Bearish Patterns Resemble 2021, Signals Major Downturn 
Santana remembers how April 2021 started off on a positive note, with prices rising only to become negative by the end of the month when bearish attitude seized. The bull market came to an end with this change, then saw a robust downturn.
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