Bitcoin Surges 43% to $100,000, Mirroring 2020 Bullish Trend

Bitcoin has once again demonstrated bullish tendencies, surpassing the $100,000 resistance level and continuing its upward trajectory. This trend aligns with the positive sentiment that has resurfaced in recent days. A crypto analyst has noted that the current Bitcoin price movement mirrors a significant fractal from four years ago, which has historically preceded bull markets.

In a recent analysis, the crypto analyst TradingShot highlighted that the current Bitcoin trend is closely following the pattern observed in 2020. Both fractals exhibit similar price actions, particularly in terms of accumulation and distribution phases. The initial accumulation phase in 2020 occurred between May and August, while a similar phase in 2024 took place between March and September. In both instances, the accumulation phase led to a bullish rally, with Bitcoin's price surging from below $70,000 to above $100,000 in a short period. This mirrors the rally from below $9,000 to above $12,000 seen in 2020.

Following the accumulation phase, Bitcoin experienced a period of distribution, characterized by downward and sideways price movements. This pattern was observed from August to October 2020 and has been replicated into the start of 2025. The second accumulation trend has now been completed, similar to what was seen in 2020. If this pattern continues, it could result in a significant breakout for the digital asset. The Bitcoin price has already broken the Pivot trend line separating the distribution from the second accumulation trend and is currently in a retest phase, testing at $97,000. Since the analyst's post, the Bitcoin price has broken this retest zone and marked an upward trend.

The 50-Day Moving Average, currently at $97,100, continues to serve as support for the cryptocurrency. As long as this level is maintained, the Bitcoin price could see a rally similar to what was observed between October 2020 and April 2021. The analyst also noted that the RSI sequences are identical, suggesting that the cryptocurrency could follow this trend fully. If this fractal plays out as it did before, the target for the Bitcoin price is set at $150,000 for this cycle. Other macro developments, such as the decision to keep interest rates unchanged, have also encouraged investors to move into risk assets like Bitcoin.