Bitcoin’s Chart Déjà Vu: 2024 Playbook Points to Possible 50% Price Surge
Bitcoin ($BTC) is flashing a chart pattern eerily similar to late 2024 — a setup that last time sent prices rocketing from $70,000 to over $108,000 in just weeks.
According to trader Galaxy, BTC is now retesting a key support level in a way that mirrors that historic breakout. Back then, a successful retest ignited price discovery and shattered all-time highs. This time, the difference is that the trendline is ascending, potentially signaling even stronger bullish momentum.
Key Takeaways:
Current Price: $116,547
Potential Upside: 50%+ if support holds
Historical Echo: November 2024 retest triggered a $38K rally
Macro Watch: US trade tariffs add uncertainty, but volatility squeeze suggests a big move ahead
Galaxy’s analysis suggests that, much like in April and June, recent swing lows — including last week’s brief dip under $112,000 — may have already formed a durable bottom. If history repeats, traders may not see those levels again in this cycle.
Other market watchers have dismissed fears of a repeat of early 2025’s 30% post-high correction, pointing instead to $109,300 as ultimate support.
With volatility compressed and a clear technical setup emerging, BTC could be on the verge of breaking its weeks-long consolidation. If the bullish script plays out, a run toward the $170K zone isn’t off the table.
Bottom Line: Bitcoin is sitting in an “interesting spot” — and for those who remember 2024, this chart pattern might be the opening scene of another explosive act.
