Bitcoin price near breakout as past trends signal recovery

The price of bitcoin has been stuck in a tight fork, but historical trends and data on the chain suggest that an escape could happen soon.

Bitcoin (BTC) was trapped between $ 84,000 and $ 82,000, buyers have trouble growing higher. Although the market is still cautious, historical models and data indicate the possibility of a break.

According to analyst Rekt Capital, on March 18 on X, the action of the current Bitcoin prices and its movement in June 2021 are similar. After a sharp decline, bitcoin was trapped between the EMAs of 21 weeks and 50 weeks.

He finally broke out at the end of July and reached a record level in November. Currently, Bitcoin is again in the same beach, which increases the speculation that history could repeat itself.

Rect capital later observed The sale pressure of this bitcoin has also decreased. Recent sales came with a volume lower than used, showing that sellers lose momentum. This opened the door to buyers, making last week a period dominated by buyers. Strong ascending trends have resulted from similar changes in previous cycles.

According to Cryptochant, Bitcoin is currently undergoing a deleveraging phase, which implies the excess lever effect of the market. In the past, these phases have created short -term purchase opportunities and have paved the way recovery. The previous market cycles show that Bitcoin often sees solid prices rebounds after the resets of the lever effect.

The increase in UTXO age bands from 3 to 6 months, which indicate the duration of Bitcoin, is another important indicator. March 15 of the cryptocurrency analysis revealed that the number of parts in this category increases, a bit like what happened in the middle of the 2024 correction.

This suggests that more investors hold their bitcoin instead of selling, reducing the available offer. In the previous cycles, this type of accumulation played a big role in the formation of market stockings and the conduct of new rallies.

Despite these positive signs, outings FNB bitcoin FNB in ​​the United States continued for the fifth consecutive week, which is the longest race ever recorded. In April 2024, four weeks of outings set the previous record.

Although this suggests short -term uncertainty, Bitcoin can be ready for a move If the sales pressure falls and the accumulation increases. A break could soon occur if the previous models continue.