First spotted by CryptoBullet, an independent market analyst, the fractal shows Bitcoin recreating an inverse head-and-shoulders (IH&S) pattern that preceded its price decline toward $3,100 later in December 2018. As a result, anticipations that BTC's price will undergo similar declines in 2022 might grow.

That is primarily because of the strikingly similar price trends between the pric downtrends in 2018 and 2021-2022. For instance, Bitcoin formed two higher highs in April and May 2018 around $10,000 before plunging below $6,000 in July while constructing the IH&S pattern.

Interestingly, in October 2021-February 2022, Bitcoin underwent an identical price trajectory, forming two higher highs — near $65,000 in April and $69,000 in November. Later, the price corrected to below $33,000 in early February while forming another IH&S pattern.

With IH&S being a bullish reversal pattern, BTC now awaits a breakout move towards or above $50,000. A similar technical setup shared by market analyst Lark Davis projects Bitcoin above $60,000.

#bitcoin forming a potential inverse head and shoulders pattern with a price target over 60k. Valid on break of orange line which is just beyond key area of resistance. pic.twitter.com/ijjZPzm6cB

But a climb to $50,000 — or even $60,000 — may not absolve Bitcoin from its prevailing bearish bias. If the 2018 fractal repeats itself religiously in 2022, BTC's likelihood of falling toward $25,000 appears higher, as explained in the chart below.

Notably, the 2018 price action saw Bitcoin breaking out to the upside after its IH&S formation, reaching almost $10,000.

In doing so, BTC's price briefly