Bitcoin has entered a bear market, according to crypto analyst Swallow Academy, who cites a completed Head and Shoulders pattern on the price chart. The formation began in early 2025 with a peak at new all-time highs, followed by a decline and partial recovery forming the right shoulder in 2026.
Though the right shoulder appears weak, the analyst asserts the pattern remains valid, signaling significant downside. Most expect support at $40,000, but Swallow Academy argues this cycle is unique-and likely to defy consensus.
The first major support level is seen at $52,300, though it's expected to fail. The next target: a bottom near $30,000. That zone is viewed as a logical accumulation point ahead of a sharp recovery.
