Is Bitcoin Gearing Up for Another Major Bull-Run?
Bitcoin may be gearing up for another major bull-run based on current trend analysis and historical price-action data. The approximate 36k-39k range on BTC has acted as an important launchpad for momentum in this market on 3 separate occasions. Back in February of '21 this range propelled Bitcoin out of a corrective phase and ultimately up to its previous 65k all-time-highs. After a major sell-off and accumulation phase, in August of '21 this range again propelled Bitcoin out of accumulation, past a daily trendline, into a daily uptrend, and ultimately to new all-time-highs. Just recently, Bitcoin experienced a similar occurrence (this can be seen better on a 2hr chart). From this range, Bitcoin broke out of a daily trendline, broke a daily downtrend, and started a daily uptrend. Given the current shift in momentum, upon retest of this range BTC could start its next major bull-run, potentially propelling it to new all-time-highs once again.
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