The current Bitcoin pullback is closely tracking the same rising-channel breakdown pattern that preceded the 2022 downturn.
Currently, Bitcoin trades at $86,301, down 0.5% over the past day and increasing its weekly loss to 9.6%. This downturn has extended its loss over the past month to 23%.
Now, a chart shared by analyst CryptoBullet suggests that Bitcoin is once again trading inside a rising channel similar to the one seen from late 2021 through mid-2022. That earlier channel eventually broke down, leading to a prolonged correction that carried prices toward the $15,000 region.
CryptoBullet captioned the comparison “Déjà vu all over again,” highlighting how the current setup tracks the earlier cycle.
A Look Back at the 2021–2022 Bitcoin Breakdown
In the first cycle, Bitcoin price traded consistently within an upward channel from January 2021 to November 2021. It saw prices rise above $64,000 in April and $68,000 in November 2021 before the bear market set in. Bitcoin price then slipped toward the lower trendline at $33,500, which initially held as support throughout mid-2021.
However, that stability faded in 2022 as Bitcoin dropped below its 50-week moving average, an early signal that the trend was weakening. Once support gave way, the decline accelerated into late 2022, ultimately sending BTC toward $15,000.
A Nearly Identical Channel in the Current Cycle
According to the chart, Bitcoin’s price action in 2025 is unfolding in a nearly identical channel. BTC reached the upper boundary of this range in October, when it hit an all-time high above $126,000, before the current sharp reversal.
It is now testing the lower boundary again, below $86,000, where it has also fallen below the 50-week moving average, another similarity to the pre-2022 setup.
The chart also outlines potential scenarios: a rebound toward the mid-channel region around $100,000–$110,000, or a deeper breakdown if support fails. A decisive move below the current range could expose downside targets at $63,000 and $43,500, highlighted in the chart with red arrows.
Déjà vu all over again 🧐#Bitcoin $BTC pic.twitter.com/KejDMmlfXW
— CryptoBullet (@CryptoBullet1) November 24, 2025
What Other Analysts Expect Next
Multiple analysts have presented their interpretations of the recent pullback. Vivek Sen noted that Bitcoin has now completed a typical 30% correction into the 0.618 Fibonacci retracement area around $89,000, with the RSI revisiting a zone that has historically marked bottoms.
Calling the setup “Bitcoin is about to go parabolic,” he suggests a strong rebound may follow if the pattern repeats.
Short-term Holders Selling at Loss
Meanwhile, data from CryptoQuant shows short-term BTC holders are selling at a loss once again. Analyst Crypto Dan adds that the dip resembles previous corrective lows and could signal either the end of the pullback or the beginning of a deeper slide.
While he does not expect a severe 70% crash, he warns that losing the $80,000 level would increase downside risk. Bitcoin currently sits about 32% below its early-October all-time high after a weekly drop of nearly 10%.
Elsewhere, analyst Captain Faibik observes that Bitcoin remains trapped below a key resistance area. A confirmed breakout, he says, could produce a 10%–12% move toward roughly $96,541.
Meanwhile, CryptoQuant highlights the broader market environment as the most bearish since January 2023, citing weak institutional inflows and a Bull Score Index of 20, with the current cycle potentially stretching into 2026.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
