Bitcoin Could Soon Surge If History Repeats Itself

Published by Cyber Flows on

Bitcoin is primed to begin a macro rally from here if history repeats itself, a recent analysis by a crypto chartist indicates.

The chartist shared the chart below on September 3rd. It shows that BTC’s about to bounce off a pivotal downtrend from the $20,000 all-time high.

While not identical per se, BTC completed a similar retest at the start of the previous bull run, where it retested the resistance of the $1,300 all-time high as support before rallying higher.

Should history repeat, BTC will not begin its bull run after it prints a clean bounce off current price levels:

“BTC weekly: 2015 -vs- 2020. Retest of descending trend line. After the successful 2015 retest, BTC ran 8,000% into the Dec 2017 ATH. Silly hopium?”

Chart of Bitcoin’s macro price action with a fractal analysis by crypto trader and chartist “Nunya Bizniz” (@Pladizow on Twitter). Chart from

Not entirely unlikely: btc’s macro chart structure remains bullish

Corroborating this sentiment that BTC is on the verge of a macro upswing is other analyses of the cryptocurrency’s macro price action.

One trader recently shared this chart below. It shows that Bitcoin’s recent price action is actually a clear retest of a macro support level, not a bearish breakdown as many have noted:

“$BTC funding and premium index reached the lowest it had been since March 19th yesterday… Except this time we’re retesting a multi-year S/R level with a confirmed bullish break in MS all the way up to the monthly chart…”

Chart of Bitcoin’s macro price action with analysis by crypto trader HornHairs (@CryptoHornHairs on Twitter). Chart from

The fundamentals of the industry remain positive. For one, Fidelity Investments was recently revealed to have begun work on a Bitcoin fund focused on offering BTC exposure to institutional clients.


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