Bitcoin may not yet be done consolidating below new all-time highs, with BTC price rejecting above $70,000.

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Technical chart patterns suggest that Bitcoin could see more upside momentum in the following weeks, mirroring previous bull cycles.

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Analysts believe Bitcoin price is en route to new highs now that the recent consolidation phase has come to an end.

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Another Bitcoin break above $70,000 will be a significant signal for traders but until it happens, analysis is “pretty futile,” according to Mati Greenspan.

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The Gann Fanns model and an emerging Inverse Head and Shoulders pattern are top of mind for traders to see if Bitcoin can “bounce” above its all-time high.

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Bitcoin futures and options indicators remain stable even after BTC price swiftly rejected off the $63,500 level.

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Veteran trader Peter Brandt sparked debate after suggesting BTC may have already hit its peak this cycle, but even he didn’t put much stock in the theory.

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