Bitcoin’s recent bull market has been notably distinct from previous cycles. Unlike past trends where altcoins typically surged alongside Bitcoin’s price hikes, this time around, they failed to follow suit, leading to an absence of the anticipated explosive altcoin season. In light of this unusual behavior, crypto analyst Swallow Academy suggests that Bitcoin may continue on a divergent path, indicating a potential entry into another bear market phase.
Forecasting Bitcoin Prices Below $30,000
A chart shared by the analyst on TradingView illustrates that Bitcoin has formed a Head and Shoulders pattern. The initial shoulder was established at the beginning of 2025 when Bitcoin reached new all-time highs later in that year, forming the head.
As we transitioned into 2026 and witnessed a significant price decline, a second shoulder emerged. Although the analyst acknowledges that this second shoulder appears somewhat weak, it still constitutes part of the overall pattern. The completion of this formation signals weakening momentum for Bitcoin’s price and suggests further declines could be imminent.
This particular structure indicates potential downturns far below what many in the market anticipate. Despite some arguing against labeling it as extreme to declare a bear market for cryptocurrencies at this stage, evidence supports such claims.
The current cycle diverges from historical patterns; thus it is reasonable to assume that any ensuing bear market will not mirror those experienced previously. Historically speaking, markets often behave contrary to prevailing expectations; since many investors believe Bitcoin will not dip below $40,000—this raises speculation about even deeper falls ahead. Furthermore, given recent struggles with maintaining support around $70,000—losing this level could pave the way for more substantial declines.
The crypto analyst projects an initial support level at $52,300 once prices begin their descent again; however he foresees eventual failure at this point too—with subsequent lows potentially settling near $30,000.
According to Swallow Academy’s analysis,this latter figure represents an optimal accumulation zone for BTC since recoveries tend to occur rapidly after reaching such lows before reversing course once more.
Featured image from Dall.E; chart sourced from TradingView.com