Financial analyst Julien Bittel said that Bitcoin's price action this year is largely similar to 2019, adding, "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 has 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.
“Bitcoin is stuck in a consolidation period and interestingly, just like in 2019, this consolidation has lasted exactly 175 days so far,” the analyst said.
“If the fractal continues, a serious rise may be seen”
According to Bittel, Bitcoin is now approaching a critical juncture where major movements can be seen. “It will be extremely important to monitor the next week,” said Bittel, continuing as follows:
“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 divergence this time? We will wait and see. If this fractal continues, we could be facing serious upward momentum.”$BTC