Many people have gotten relief from the recent Bitcoin crash. Following a dip to around $60,000, the token has recovered to around $69,000, where it trades at the time of writing. Confidence returned quickly as price moved away from the local bottom. A familiar BTC chart structure now points to a deeper risk that could still unfold across the market.
Crypto analyst Crypto Patel notes on X that a repeating cycle that appeared in 2017 and again in 2021. Each period showed a powerful parabolic rise followed by a steep correction that erased a large portion of prior gains.
Current Bitcoin price behavior sits at a similar stage within that historical rhythm. His warning centers on the possibility that BTC could fall toward $35,000 if the pattern completes in the same way.
Bitcoin Price Structure Shows Repeated Cycle From Previous Market Peaks
Historical BTC cycles often begin with slow accumulation, then transition into a rapid vertical rally that attracts widespread attention. Price eventually reaches an overheated zone where buyers lose strength and sellers take control. Data from earlier cycles shows drawdowns that exceeded 70% before a true long term bottom formed.
The chart shared by Crypto Patel maps those earlier corrections onto the present Bitcoin price trend. Previous peaks near $20,000 in 2017 and near $69,000 in 2021 both led to extended declines toward major support zones.
Current BTC price action reached a new high above $100,000 before heavy selling pressure appeared. That similarity forms the foundation of the bearish scenario now under discussion.
BTC Price Support Levels Suggest Downside Risk Toward $35,000 Zone
Long-term trend lines on the chart reveal a rising support boundary that has guided Bitcoin price movement for years. Each major correction eventually touched or approached that structural floor before recovery began. Projection of that same boundary into the current cycle places potential support close to the mid $30,000 region.
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Crypto Patel emphasizes preparation rather than fear. Market history shows that deep corrections often create the foundation for the next expansion phase. Survival through volatility has defined past successful investors. His outlook frames the possible decline as part of a broader cycle instead of an isolated collapse.
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