Bitcoin Price Action Echoes 2024’s 50% Jump

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Bitcoin price analysis looked to last November for clues as to how high BTC might go if recent bull market history repeats.

Bitcoin is attempting a support retest that looks very similar to late 2024, trader Galaxy said.

Last time, BTC price action went from $70,000 to $108,000 after a successful retest.

Separate analysis does not see a return to recent swing lows.

Bitcoin price action may open up a fresh 50% surge if a key support line holds.

New analysis from trader Galaxy published on X on Thursday sees BTC/USD repeating its late 2024 breakout.

Bitcoin in “interesting spot” during support retest
Bitcoin price comparisons keep coming as market participants see similarities between the current market structure and earlier phases of the bull run.

For Galaxy, emphasis is now on the moves that led to BTC/USD breaking old all-time highs of $73,800 in November 2024.

Then, as now, the pair worked on retesting a resistance trendline as support after initially breaking through it. When it succeeded, price discovery began.

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