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The crypto Market keeps falling to new lows with billions in liquidation. It’s been a big blow for Bitcoin as it now faces renewed pressure after a fresh SuperTrend flip signaled a new sell phase. The current scenario also raised questions about a possible retest of the $32,000 zone.
The alert came from analyst CryptoPatel, who shared a chart on X showing a bearish structure that looks similar to the previous major reversal. Traders closely watched the development because the last SuperTrend bearish flip preceded a 70% decline. The current setup mirrors that moment. The market now waits for confirmation as fear grows over another deeper correction.
CryptoPatel stated that the SuperTrend indicator flipped to sell. He pointed out that the last time this signal appeared, Bitcoin dropped sharply. Traders looked at the previous pattern because it formed around a clear resistance rejection. The new chart shows a similar rejection zone. It also shows the same red candle formation at the weekly resistance. This setup immediately drew attention due to its historical accuracy.
Bitcoin trades near $93,400 after failing to reclaim the upper resistance zone around $110,000. The weekly candles also align with a tightening formation that reflects weakening buyer strength. The new sell signal now adds extra pressure.
The analyst highlighted a similar setup from 2022. During that period, Bitcoin attempted to break resistance but failed. The chart then showed a SuperTrend bearish flip. The price later fell by more than 70%. The new chart replicates the same sequence. It shows resistance rejection. It shows a bearish candle cluster. It also shows the SuperTrend shifting downward again.
The chart also outlines the previous crash range. It marks the support zone around $16,000. It then compares it with the possible target zone near $32,000. The analyst asked traders if Bitcoin could revisit that level again due to the repeating pattern.
Bitcoin currently sits above a wide support range near $74,000. This area marked a strong weekly bounce earlier in the year. The chart highlights this region as the first major cushion. A breakdown from this zone may open a deeper decline toward the larger support area around $32,000. That zone served as a major demand region during the previous cycle.
The weekly structure also supports this path. It shows lower highs forming. It shows momentum slowing. It shows rising sell volume during resistance retests. These combined signals keep traders cautious as another volatility spike becomes likely.
The analyst warned traders to stay alert due to the repeating market structure. He described the current setup as “same rejection, same structure, same setup.” The comparison sparked discussions across the market because the chart's pattern aligns almost exactly with the earlier breakdown.
Traders now monitor two zones. They watch resistance near $110,000. They also support nearly $74,000. A stronger rejection from resistance could create more selling pressure. A break below the support zone may increase the probability of a move toward $32,000.
The broader chart also reinforces this narrative. It shows the long-term resistance line. It shows the same bearish candle formation. It shows a repeating red shaded region that marks the earlier collapse. The visual similarity supports the analyst’s caution.
Also Read: Bitcoin Price Falls to $89,896 as Market Volatility Intensifies
Bitcoin now stands at a critical point. The SuperTrend sell signal echoes the last major breakdown. The weekly chart shows a repeating setup with matching resistance rejection and a similar structure. Traders now wait to see if Bitcoin holds the $74,000 zone or moves toward $32,000. Market participants continue to track these levels as volatility rises.
