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Critical junction in Bitcoin: “Eerily similar to 2019”

Financial analyst Julien Bittel stated that Bitcoin’s price action this year is largely similar to 2019, and said, “The next week will be extremely important.” Bittel commented, “If this fractal continues, we could see a serious upward movement.”

Former asset manager and financial analyst Julien Bittel suggested that Bitcoin’s price structure this year is starting to look “eerily” similar to 2019. Sharing the chart below, Bittel emphasized that the number one cryptocurrency’s movements in 2024 are very close to 2019.

The analyst said, “Bitcoin is stuck in a consolidation process and interestingly, just like in 2019, this consolidation has lasted exactly 175 days so far.”

If the fractal continues, a serious rise can be seen”

According to Bittel, Bitcoin is now approaching a critical junction where big movements can be seen. “It will be extremely important to monitor the next week,” said Bittel, and continued:

“All eyes are on how Bitcoin will react when we reach this turning point. Will it follow the 2019 scenario or will there be a deviation this time? We will wait and see. If this fractal continues, we may face serious upward momentum.”

After falling sharply to $52,550 yesterday, Bitcoin is trading above $54,000 today. The cryptocurrency is finding buyers at $54,300 as of 23:15 TSI.

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