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.