Bitcoin’s Ballet of Doom: Rekt Capital’s Ominous 2021 Déjà Vu

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Ah, the capricious waltz of Bitcoin, that digital chimera, once again threatens to pirouette into the abyss. A certain soothsayer, veiled under the nom de plume Rekt Capital, has deigned to inform his legion of 562,400 acolytes on the platform X that the cryptosphere may be reprising its 2021 tragicomedy. How delightful.

Behold, the monthly chart, a canvas of despair, reveals a macro descending triangle-a geometric harbinger of doom, akin to the one that presaged a 55% plunge in the bygone days of 2021. “These triangles,” our oracle intones with a gravitas that borders on the absurd, “tend to weaken over time, like a soufflé left too long in the oven of market sentiment.”

“Whenever these bases form, they first establish themselves with an overextension-a flourish of hubris. In 2021, this overextension was a modest 100%, hardly exuberant, yet the subsequent rebound was a tad more theatrical. But alas, after that fleeting higher high, we descended into the morass of macro lower highs, each one a step closer to the abyss.”

“This macro lower high, should it fail to respect the newfound macro downtrend, shall simply lapse into oblivion. If, indeed, we find ourselves in the embryonic throes of a bear market, that higher low will be but a fleeting illusion, invalidated by our inability to breach the confines of the descending triangle.”

Gazing upon his chart, one discerns a grim prognosis: should Bitcoin breach the support level at $84,552-the flimsy base of this triangular tomb-a deeper correction looms, as inevitable as a Nabokovian protagonist’s downfall. Yet, our analyst, ever the optimist, allows for a sliver of hope: a breakout from the descending trendline might signal a bullish reversal. How quaint.

“Breaking that downtrend, we might permit ourselves a modicum of bullish sentiment, but until then, the evidence suggests we are but players in a rerun of 2021’s melodrama.”

At the time of this scribbling, Bitcoin languishes at $84,037, a 4.58% decline on the day. Will it rise like a phoenix, or shall it crumble like a poorly constructed metaphor? Only time, that implacable arbiter, will tell.

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2026-01-31 05:31