Bitcoin's recent price action has sparked interest among analysts, with some pointing to a familiar setup that precedes major bull runs.
The 2-year moving average serves as a long-term cycle gauge for Bitcoin's price. When the cryptocurrency drops below this threshold, it typically enters a deep correction phase, but these phases are not permanent and have been followed by significant price increases in the past.
Crypto Patel's analysis highlights that every time Bitcoin traded below its 2-year MA, a major bull run followed. This pattern is particularly notable as it has appeared before every major bull run since 2015.
The $86K green line marks the smart money accumulation zone, and Bitcoin currently trades below this level. The red line at $430K represents a projected distribution zone, serving as a long-term objective rather than a short-term forecast.