Bitcoin has been consolidating prices between $53,000 and $72,000 since peaking at over $73,800. Analysts note that this consolidation phase may be nearing an end following a bullish weekly close on October 27, with Bitcoin closing at $67,938. Historical patterns suggest Bitcoin typically peaks around 518 to 550 days post-halving, with this cycle showing a 35-day acceleration. With tight Bollinger Bands indicating low volatility, significant price movements are anticipated. Analyst Severino points out that the current Bollinger Band conditions resemble those seen before major rallies in 2023 and 2015, suggesting a breakout may lead to unprecedented price levels in the coming months. Fellow analyst CryptoCon agrees, indicating that prolonged consolidation usually results in a significant upside.

Source 🔗