We are here...

If history repeats, we are in a pretty good spot right now.

Of course there is no guarantee that history will repeat, but the setup is certainly there.

As it stands right now, bitcoin has basically done everything it was expected to do.

It had the 50% drop once it lost the upper support and has since found support....

Check it out:

(Source: https://twitter.com/AurelienOhayon/status/1632399587041239040/photo/1)

Now, if history repeats we would keep going higher until we break back above that prior resistance level.

Which means the recent pullback would almost be over.

Again I have no idea if history will repeat, but the setup is certainly there.