- Each Bitcoin bull run since 2013 began after breaking above the Fibonacci Bollinger Band Topline resistance on the long-term chart.
- November 2024 marked the latest breakout above the Topline, aligning with historical patterns that preceded major bullish rallies.
- Bitcoin currently holds above the breakout level without parabolic movement, resembling early phases of previous bull cycles in structure.
Bitcoin recently broke above a major technical level known as the Fibonacci Bollinger Band Topline, a pattern consistent with previous bull runs.
Breakouts Have Marked Every Previous Bull Market
A historical chart shared by CryptoCon on X shows a repeating cycle for Bitcoin. Each major bull market has started after Bitcoin decisively moved above the red Topline of the Fibonacci Bollinger Bands. This breakout has consistently triggered strong rallies across multiple market cycles.
Bitcoin made a breakout higher than the Topline back in February of 2013 and rose from below $20 to over $1,000. The 2017 rally was initiated back in January after the same breakout, with Bitcoin going up to nearly $20,000. Once again in November of 2020, BTC made a breakout higher than the Topline, taking the price into beyond $60,000 within the next few months.
These sequences suggest a historical trend where each bull market follows a breakout from the same level on the Fibonacci Bollinger Bands.
2024 Breakout Signals a New Phase
The chart now identifies November 2024 as the point of the latest Topline breakout. Despite this move, a parabolic price run has not yet occurred. CryptoCon noted that while some metrics lose effectiveness over time, this one has remained consistent through each cycle.
The Fibonacci Bollinger Bands combine long-term price trends with Fibonacci levels, creating a structured model for market movement. The Topline has proven to be a reliable marker for the start of bullish phases, and Bitcoin’s current price action sits just above it.
This position mirrors the early stages of past bull markets. Although a full breakout has taken place, the price has yet to accelerate as it did in earlier cycles.
Price Consolidation May Precede Next Rally
In each previous cycle, sustained price movement above the Baseline preceded a parabolic rise. The current cycle appears to follow that same path, with the price now hovering above the breakout line but lacking explosive momentum.
The structure of the chart suggests a similar setup to prior bull markets, with a possible rally forming. According to CryptoCon, “everything is screaming that the bull run hasn’t come yet,” suggesting the strongest phase could still be ahead if historical patterns repeat.
