_BITCOIN Repeating the November 2023 Channel: Targets $140k_

Bitcoin (BTCUSD) has been trading within a Channel Up pattern for the past three weeks, similar to the pattern formed in November 2023. Despite struggling to break above the $100,000 psychological barrier, historical patterns suggest a breakout is imminent.

_Historical Patterns Favor a Breakout_

The Channel Up pattern formed in November 2023 was identical to the one formed a year ago, which paved the way for the March 14, 2024 High. This similarity in patterns suggests that a breakout is likely to occur.

_August 2023 vs August 2024: Uncanny Similarities_

The sequence of events since the August 5, 2024 Low is eerily similar to the one that started a year ago in August 2023. Both fractals began with an August decline below the 1D MA200, bottoming inside a Cup pattern that initiated an Accumulation Process.

_Golden Cross to November Channel Up_

A 1D Golden Cross was formed when the November Channel Up pattern emerged. By that time, the price was already on the 2.0 Fibonacci extension of the August decline.

_Next Step: $140k_

A mere test of the 3.0 Fibonacci extension would translate to a $140,000 price tag on Bitcoin. Based on the striking similarities and high degree of symmetry with the pattern a year ago, it may become a reality as early as February 2025.

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