Bitcoin bulls are currently attempting to break out from the ongoing correction, aiming to capitalize on the upcoming bitcoin halving event. While historically there hasn't been a rally leading up to the halving, the current situation is unique as Bitcoin trades at new all-time highs. Breaking the previous high of $73,700 and establishing new support around the first supply level indicated above could signal a significant shift in sentiment, potentially igniting a pre-halving rally. I'm bullish on this outlook.