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Historical data points to Bitcoin mirroring past rallies, is it ready for massive gains
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The overall cryptocurrency market is going through massive bloodshed at the time of writing. As per CoinMarketCap, it recorded an overall 10% decline in market cap, following this setback. Bitcoin shed more than 9% in the last 24 hours, slipping below the $60k mark.
However, strong hands within the crypto ecosystem continue to HODL. Let’ take a look at what’s the reason behind the bullish narrative?
Well, here’s one. The pseudonymouscrypto market analyst TechDev believes that the token is mirroring past rallies and could be on the verge of achieving massive gains. Consider the chart below:
Source: Twitter
As can be observed, BTC here resembled a path from its late 2020 structure. At that time, the token consolidated below the $20k mark before
Read more on ambcrypto.comAbout this in other media
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