🟢 A well-known market researcher and Smart Money tracker under the pseudonym bike4sail shared an analysis of Bitcoin (BTC) on social media platform X. He presented two price charts of the flagship cryptocurrency paired with the US dollar (USD).
🟢 The charts compare the current price movement of Bitcoin with a similar rise in 2017. Both illustrations show a similar structure, allowing for parallels to be drawn between the current scenario and what happened seven years ago.
🟢 The analyst stated that attention should be focused on the $68,907 level, using it as a benchmark for future developments in the BTC market. If this level is broken and held, a bullish rally is expected to gain momentum in the near future. Otherwise, it may take a bit more time to gather strength for a subsequent upward movement.