Bitcoin is mirroring the bullish pattern of gold in 2024, according to top analysts.

A cryptocurrency strategist who once gained fame for accurately predicting the bottom of Bitcoin in 2022 now believes that BTC is very close to a bullish move following a parabolic pattern.

DonAlt stated that Bitcoin is currently in an accumulation phase just below the $110,000 mark – a price range considered a potential springboard for a parabolic breakout, opening up the opportunity to establish new all-time highs in the market.

"Look at the price range around the $2,000 mark for gold – that is exactly the kind of situation Bitcoin is facing right now. If you are expecting something different from this pattern, I fear you are mistaken.

The XAU/USD pair is surging strongly after breaking through resistance around $2,000 on the weekly chart | Source: DonAlt/YouTube As you can see, the resistance level has been tested four times, accompanied by a series of false breakouts that have confused the market. For a long time, the price was almost stagnant, then suddenly surged continuously – witnessing that is truly a crazy feeling.

Weekly BTC/USDT chart with the resistance level of $110,000 highlighted | Source: DonAlt/YouTube And I believe that Bitcoin is currently exhibiting this exact behavior: the price oscillates around a range in three or four attempts, then suddenly breaks out, catching many off guard before the actual trend begins.

As of the time of writing, gold is trading at $3,368, while Bitcoin is priced at $102,514.

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