Bitcoin price is already turning heads after reclaiming $20,000 per coin, but if the current monthly candle closes on BTCUSD price charts, the top cryptocurrency will satisfy the conditions of a morning star reversal pattern.
The last time the signal occurred at the bottom of a major downtrend, Bitcoin began a two-year-long bull run in cryptocurrencies and went on to climb more than 6,000% after the morning star confirmed.
Bitcoin Reclaims $20,000: A Wake Up Call For The Bull Market
Bitcoin is once again above $20,000, but a lot has changed since 2020 when it passed the key level for the first time. The number one cryptocurrency by market cap has declined by 78%, and altcoins have dramatically collapsed by as much as 99%.