The current BTC chart before the Bitcoin halving is similar to the 2016 chart. Trader and blogger Mags (68.7 thousand subscribers in X) came to this conclusion:

“...During each halving event, we have seen some volatility before or after the halving event.

After the recent reset, the structure looks much the same as it did in 2016, when the price declined and then plateaued for a long time for several months after the halving event before starting to rise again.

Remember, what we have seen so far has been a retracement to the previous ATH. The real bull run will begin a few months after the halving.

Until then, don’t let yourself shake out.”