Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
Analyst Highlights Promising Bitcoin (BTC) Historical Patterns: Are Altcoins Ready to Soar After Breakout Retests?

Analyst Highlights Promising Bitcoin (BTC) Historical Patterns: Are Altcoins Ready to Soar After Breakout Retests?

CoinsProbeCoinsProbe2025/01/23 20:22
By:Nilesh Hembade

Date: Thu, Jan 23, 2025, 12:39 PM GMT

The cryptocurrency market has been full of excitement lately, driven by Bitcoin’s (BTC) impressive performance over the past few months. Starting at $68K in November 2024, Bitcoin skyrocketed to a new all-time high of $108K by December 17. After reaching this peak, BTC faced a healthy correction, briefly dipping to $89K and clearing out long positions. However, it didn’t take long for Bitcoin to bounce back, surging to $109K on January 20, 2025—a milestone that coincided with Donald Trump’s inauguration.

While Bitcoin has shown its strength, altcoins have yet to ignite the rally that many investors anticipate. However, according to crypto analyst @CryptoJelleNL , the charts paint a promising picture, suggesting both Bitcoin and altcoins are positioning themselves for significant moves.

Bitcoin (BTC): Repeating Historical Patterns

As per the analysis, Bitcoin appears to be mirroring its moves from late 2023 and early 2024. In November 2023, Bitcoin began its rally (marked by the green circle in the chart), followed by a correction in January 2024 before making a significant upward move.

Analyst Highlights Promising Bitcoin (BTC) Historical Patterns: Are Altcoins Ready to Soar After Breakout Retests? image 0 Bitcoin (BTC) 1W Chart/Source: @CryptoJelleNL (X)

The current setup seems to follow the same trajectory. Bitcoin’s November rally in 2024 has been succeeded by a correction, during which the MACD indicator (shown in the chart) is retesting its signal line—a behavior that previously preceded strong upward momentum. If history repeats itself, BTC could be gearing up for another major leg upward.

Altcoins: A Potential Bullish Setup

As Bitcoin demonstrates resilience and bullish momentum, attention shifts to the altcoin market, where key technical setups suggest a potential upside move is on the horizon.

Altcoins Chart 1: Bullish Pennant Formation

The OTHERS 3D Chart shows altcoins breaking a key trendline and resistance level before consolidating within a bullish pennant formation. This setup often precedes a breakout, which could signal a rally for the broader altcoin market.

Analyst Highlights Promising Bitcoin (BTC) Historical Patterns: Are Altcoins Ready to Soar After Breakout Retests? image 1 OTHERS 3D Chart/Source: @CryptoJelleNL (X)

Altcoins Chart 2: TOTAL2 Retesting Breakout Levels

A closer look at the TOTAL2 Chart reveals that altcoins have broken out of a downtrend line and are now in a retest phase. Retests of this nature are crucial as they often serve as springboards for significant upward moves, provided the support holds.

Analyst Highlights Promising Bitcoin (BTC) Historical Patterns: Are Altcoins Ready to Soar After Breakout Retests? image 2 TOTAL2 Chart/Source: @CryptoJelleNL (X)

While Bitcoin has led the way in recent months, altcoins may be on the verge of catching up, with technical indicators and patterns aligning to support a potential rally.

Conclusion

Both Bitcoin (BTC) and altcoins charts are showing promising setups, pointing to a potentially bullish outlook. Bitcoin’s historical pattern, where a breakout is followed by a correction and a MACD retest, mirrors the current price action. Similarly, the TOTAL2 Chart for altcoins shows a breakout from a long-term downtrend line, followed by a retest of the breakout level—a critical phase that often signals the next major move.

These parallel setups between Bitcoin and the altcoin market suggest the possibility of synchronized rallies. If BTC resumes its upward trajectory as it has historically, altcoins could follow suit, fueled by their bullish consolidation patterns and breakout retests.

While the charts look promising, market conditions remain dynamic, and proper risk management is essential. Stay vigilant and well-informed as the market evolves.

Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Bitcoin News Update: Bitcoin Drops 30%, Revealing 'Panda Phase'—A Mild Bear Market Lacking a Definite Bottom

- Bitcoin fell 30% to $87,080, its steepest two-month drop since 2022, driven by ETF outflows, leverage liquidations, and stablecoin declines. - Institutional confidence waned as asset managers paused accumulation, while retail investors exited en masse, worsening liquidity and market sentiment. - The Crypto Fear & Greed Index hit record lows at 15, reflecting panic amid Fed policy uncertainty and Bitcoin's 0.72 correlation with the Nasdaq 100. - Deribit's $1.76B call condor bet hints at cautious optimism,

Bitget-RWA2025/11/28 06:38

Lowe's CEO's Approach to DEI: Embedding Diversity into Operations Rather Than Symbolic Actions

- Marvin Ellison, former Target part-timer and one of eight Black Fortune 500 CEOs, led Lowe's to $20.81B Q3 revenue through operational discipline and AI-driven innovation. - His Total Home strategy integrating services and store productivity, plus 50+ AI models for inventory/price optimization, drives growth amid retail challenges. - Ellison prioritizes action-based DEI reforms like leadership-focused hiring over credentials, rejecting performative gestures post-2020 George Floyd protests. - Despite rais

Bitget-RWA2025/11/28 06:38
Lowe's CEO's Approach to DEI: Embedding Diversity into Operations Rather Than Symbolic Actions

Bitcoin News Update: Unveiling Layered Risks as Connections Between Crypto and Traditional Finance Deepen

- Bybit temporarily halted CME-linked crypto futures trading after CME Globex disruptions, exposing vulnerabilities in centralized infrastructure linking traditional and digital markets. - CME Group faced scrutiny for technical glitches suspending Bitcoin futures, despite record 9% monthly growth in crypto derivatives volume and 132% YoY expansion in notional value. - Analysts highlight cascading risks from centralized system failures, urging diversified risk strategies as institutional adoption of 24/7 cr

Bitget-RWA2025/11/28 06:38
Bitcoin News Update: Unveiling Layered Risks as Connections Between Crypto and Traditional Finance Deepen