Bitcoin Forms The Same Pattern That Previously Led To A 400% Rally

However, the move did not immediately turn into a sustained rally. Instead, Bitcoin paused and began trading within a horizontal range close to the breakout level, forming a consolidation zone where significant trading activity took place. Related Reading: Pundit Predicts When The XRP Price Will Rally To 12 The chart shared by analyst CryptoTice shows that Bitcoin is forming a very similar structure in the current cycle. Just as in the earlier period, Bitcoin has already pushed beyond a previous ATH before settling into a comparable horizontal range. In both cycles, the breakout was followed by a period when the price slowed, and Bitcoin traded around the former resistance area. Instead of breaking down further, Bitcoin found support there and began stabilizing. This movement confirmed that the level that once acted as resistance had now turned into support, resulting in a retest of the former all-time high zone. The current chart indicates that the same retest pattern may be developing again. After reaching a new peak, Bitcoin has started moving back toward the breakout area once more. According to the analyst, this pullback represents the current retest phase of the cycle, closely matching the stage that appeared just before Bitcoin’s previous 400 rally. Bitcoin Rally Comparison: From Retest To Expansion After the retest held during the previous cycle, Bitcoin began moving upward again. Momentum gradually built until the market entered a strong expansion phase, eventually pushing Bitcoin from about 17,000 to 69,000. The chart indicates the current market may be approaching the same stage. In the earlier cycle, the rally began after Bitcoin successfully held the retest level. The present structure appears similar, with the green band on the chart marking the key support area analysts are monitoring to see if the pattern remains intact. Related Reading: Analyst Predicts Bitcoin Price Will Top 320,000 After ‘Cleanest Signal’ Emerged Current market data provides additional context. Bitcoin is trading near 80,667, with a market capitalization of about 1.61 trillion and a circulating supply close to 20 million BTC. Although the market is significantly larger than it was during the previous cycle, the long-term price structure still resembles the earlier formation. The analyst’s chart also includes a projected path reflecting the same sequence seen before: a breakout above the previous high, a retest of that level, and then a sustained rally. Overall, the chart suggests Bitcoin may be repeating the structure that previously led to a 400 rally, with the ongoing retest potentially serving as the launch point for the next major leg up. Featured image created with Dall.E, chart from Tradingview.com