%{{tag.tag}} {{articledata.title}} {{moment(articledata.cdate)}} @{{articledata.company.replace(" ","")}} comment Cryptoprowl.com / The downturn in Bitcoin (CRYPTO: $BTC ) is likely to worsen based on a new bearish chart pattern that has formed. A chart pattern that preceded the deepest phases of previous bear markets for Bitcoin has resurfaced, causing angst for investors and analysts. The pattern shows a flip in long-term averages on a chart that bundles three days of Bitcoin price action into each candle. This pattern previously surfaced in 2014 and, within a week, Bitcoin's price fell to under $4,500 U.S. from a peak of $20,000 U.S. In 2022, the same pattern occurred with a similar crash occurring. Bitcoin's price dropped to $17,500 U.S. from $32,000 U.S. The chart pattern's return suggests that Bitcoin's price could fall below $60,000 U.S. BTC is already down about 45% from a peak of $126,000 U.S. reached last October. Several analysts expect Bitcoin's price to drop as low as $50,000 U.S., or lower, before it finally bottoms and reverses higher. BTC is currently trading just below $66,000 U.S. and has been rangebound for several weeks.