History Meets Timing! Bitcoin (BTC) Hits $16K, Three Factors Suggest a Broader Rally May Be in the Offing

BTC/USD Daily Chart

History Coincides With Post Halving Cycle
Historically, it was noted that BTC saw a prolonged rally when its monthly candle closes above previous candles.

Also in terms of the broader BTC rally narrative, the timing for a new Bitcoin rally seems appropriate as Bitcoin is presently in a post-halving cycle. BTC typically rallied 14 to 16 months after prior halvings. Hence, a new high for the next major rally in mid-2021 would be historically relevant.

Courtesy: Glassnode

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