BITCOIN Perfect structural repeat of the 2019 rally?

BINANCE:BTCUSD   Bitcoin / U.S. Dollar
On the previous analysis we talked about Bitcoin's ( BTCUSD ) emerging Golden Cross on the 1D time-frame and how it is clashing with the emerging Death Cross on the 1W time-frame. Well the 1D Golden Cross has been formed today and automatically draws our attention to the 1D Golden Cross of April 23 2019. This was formed just after the early 2019 rally begun. So the question that pops out is this: 'Is BTC repeating this rally?'.

So far we can surely say that the structure since the November 21 2022 bottom resembles almost perfectly that from January 29 2019 to April 23 2019 and that 1D Golden Cross. As you see on the chart, both sequences started with a Channel Up on the 1D MA50 (blue trend-line), then consolidation before a hyper aggressive wave that broke above the 1D MA200 ( orange trend-line) that later formed the Bullish Megaphone pattern that led us to the Golden Cross of today. RSI wise we are on the very same Bull Flag along the price's Megaphone.

Following the Golden Cross, the 2019 structure rose another +150% from the day of the Cross to the June 26 2019 High. Obviously that rally isn't easy at all to be recreated as it was additionally fueled by the Libra fundamentals and a +150% rise from today's lows would put the peak of the rally at $57000.

Unrealistic or not, it is yours to judge, so feel free to let us know of your opinion in the comments section below! Are we repeating the 2019 rally?


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