Bitcoin's 180-day range has been tightening recently, signaling a potential explosive move according to past patterns.
This is the third time in the current cycle that Bitcoin's price has compressed into a tight range, typically preceding a sharp rally.
Historically, the 2017 bull run was preceded by three similar occurrences of compression in the 180-day range, leading to significant price increases.
Glassnode analytics firm notes that almost the entire Bitcoin market is currently in an accumulation phase, indicating a bullish sentiment among investors.