If the current trend really is similar to the post-ATH one as these indicators would seem to imply, then it means BTC’s price might move up soon and make a local peak. And just like last time, a big drop could happen after that which takes the price to lower levels. So that this uptrend could turn out to be the last move up for a while.
At the time of writing, Bitcoin’s price floats around $45.7k, down 10% in the last 7 days. Over the past month, the cryptocurrency has dropped 1% in value.
Here is a chart showing the trend in the price of the coin over the last three months:
Bitcoin's price moves sideways after a big plunge downwards | Source: BTCUSD on TradingView
Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant