Bitcoin bulls and bears alike are watching the recent price action like a hawk ready to strike at the first sign of opportunity. Thus far, bulls have been winning the recent battles and appear to be regaining control. However, the bear market has been a long one with many surprises, twists, and downturns.
History often repeats, which is cause for alarm for bulls as in the past the bullish “golden cross” that just occurred in Bitcoin price charts, ended up being a fakeout that was was quickly followed by a steep retracement that resulted in a bearish death cross. The historical price action is the focal point of much analysis throughout the crypto space, as investors and traders wonder where Bitcoin’s next big move may take the market next.