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Bitcoin appears to be walking a well-worn path, one that gold traced out not long ago. According to an analysis shared by crypto analyst Ted Pillows on the social media platform X, the current price structure of the leading cryptocurrency is closely imitating gold’s trajectory from its accumulation phase through distribution and a breakout rally.
The observation, backed by a side-by-side comparative chart, suggests that Bitcoin’s correction after hitting its new all-time high earlier this year is not only healthy but also part of a large alignment with gold’s recent bull run.
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Distribution, Reaccumulation, And Setup For Next Breakout
Technical analysis of Bitcoin’s price chart shows that the leading cryptocurrency
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