BITCOIN can rally to $170K if it repeats 2018-21 history for BITSTAMP:BTCUSD by YanakTrading

trendanalysis candlestick chartpattern bitcoin rally long-term analysis bullish candlestickpattern history repeatingpattern similarity

Here we looked back at the bars pattern from 2018 to the beginning of 2021 and replicated it at April 2022 (the BLUE pattern).

We can see a clear similarity in the bars' pattern from April 2022 to January 2023 which makes us believe that the price will repeat history.

We are presently in a Concentration Zone where the price is predicted to BREAKOUT bearish at the start of February 2023 and rally as low as 8.5k.

The price would then come back bullish and rally as high as 170k and hit new ATH.

Bitcoin looks bullish in the long run !!!

Let me know if you agree!

This is an analysis. Not financial advice.

Comment:

I haven't updated this idea in a while, but I retook this price history (the BLUE pattern) and it played out pretty well in the following months up until right now, November 3, 2023. It's not dead perfect, but it's surprisingly very similar so there is a lot to learn from it. The chart:

The price target of 38k was preshot too early, but we see that it's starting to play out right now.

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