BITCOIN Holding the ATH Zone! Is this like 2017?

Bitcoin (BTCUSD) made a sharp decline on Saturday and is now in the process of recovering. The 1W candle wick dived as low as the low of almost 30 days back (March 20), extending the 1-month consolidation since March 13 High. This is of course directly related to the fundamental aspect of BTC's Halving, which is due at the end of the week and historically exerts high volatility onto the market.

Buy even from a technical point of view, those two sell-offs found Support and held the (red) All Time High (ATH) Zone, which is the range taken from the closings of the previous ATH candles. As we can see on the right chart, it was the exact case on the 2014/ 2017 Cycle, which is the Cycle that we first here most tightly correlated Bitcoin's current Cycle.

More specifically, the March 20 and April 10 2017 1W candles, were both contained at the bottom of the ATH Zone and sharply extended the rally right after. This means that the Halving event can be the ideal fundamental 'excuse' to kick-start the rest of the technical rally and fulfil the pattern.

But what do you think? Will history be repeated once more? Feel free to let us know in the comments section below!


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