Bitcoin: Repeats 2023 Price Action Pattern

Bitcoin is mirroring its 2023 sequence exactly, according to @CryptoMichNL. A sharp upward thrust marked the first leg of the bull cycle, followed by a higher high before the market swept recent lows and anchored at the 200-day moving average.

Price sits at $74062 on the 4h chart inside the Bollinger Bands, with the upper band at $76296.97 acting as immediate resistance and the lower band at $72905.77 as short-term support. The EMA50 at $75792.34 and EMA200 at $79327.82 frame a bearish structure overhead, yet the MACD golden cross at -633.19 signals building momentum while RSI at 41.94 remains neutral. Traders watch for a rejection at the upper band that could drive a quick test of the EMA50 before any acceleration higher, where short liquidity sits ready to fuel the next leg.