key points:
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Bitcoin is trying a support retract that looks very Simila at the end of 2024, trader galaxy notes.
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Last time, the BTC price action ran from $ 70,000 to $ 108,000 after a sucking was successful.
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Separate analysis does not see a return to reject swing climbing.
Bitcoin (BTC) price action can open a fresh 50% jump if a major support line holds.
X repeats its 2024 breakout to BTC/USD, a new analysis from the popular trader Galaxy published on Thursday.
Bitcoin Doing Support Retest in “Interesting Spot”
Women are continued as compared to the price of bitcoin as the market participants see similarities in the current market structure and the first bull run.
For Galaxy, now the film has been emphasized due to which BTC/USD broke the old $ 73,800’s old all-time high in November 2024.
Then, as now, the pair worked on a resistance trendline, when it succeeded, the price search began.
“In an interesting place $ BTC,” Galaxy told X followers.
“The last time it was closed in this way was before the run from $ 70K to $ 100K.”
The situation is not the same in August 2025. The trendline is now ascending, not descending, which promote external factors like macroeconomic headwinds in the form of US trading tariffs.
As Cointelegraph said, how, the consensus is that the BTC value will eventually choose a direction
Any new BTC price climb?
When it comes to history, comparison, there are more good news for the bull.
Connected: Bitcoin supply ‘UNCORK’ runs dry as OTC desk for BTC price
The analysis has already rejected the idea that Bitcoin can mimic its behavior from the beginning of the year, when All-Time High has expressed a 30% price.
Instead, the $ 109,300 peak, which came in January, is on the radar as the final support.
In another observation this month, Galaxy saw a pattern that included swing loose, of which the latest came on August. 1, when BTC/USD briefly below $ 112,000.
When swinging climb appeared in April and June, both occasions formed a below, which was not again.
There are no investment advice or recommendations in this article. Every investment and trading film includes risk, and readers should do their research while taking decisions.
