Bitcoin is positioning itself for a big bullish move

Bitcoin is positioned to continue its impressive profits.

Zach Voel of Blockstream noticed that Bitcoin had reported six consecutive green day candles.  

The last time this happened, the flagship cryptocurrency shot up to $ 12,000 in August 2019.

Bitcoin also made a similar bullish formation on the weekly chart, reminiscent of the massive pump up to $ 9,000 from Q2 2019. 

According to the ‘ Bitcoin Jack ‘ trader , this has happened only 8 times before, in 6 of these cases there was a sweep afterwards. Therefore, this movement may continue until halving on May 12.

Havling has been viewed as a bullfighting event for years. However, the market does not expect a jump before the event itself – there is only a 5% chance of seeing a price of $ 9,000 before halving. 

At the time of writing, Bitcoin is trading at $ 7,765.