Key Points

• Bitcoin is currently testing a significant support level in the latter half of 2024, according to Trader Galaxy.

• Previously, BTC’s price rose from $70,000 to $108,000 after a successful retest of support.

• Individual analyses suggest there’s unlikely to be a return to recent low swing values.

Bitcoin (BTC) could see a potential price increase of 50% if it manages to hold this crucial support line.

Recent analysis from Trader Galaxy, shared on Thursday, indicates that BTC/USD may be mimicking its breakout patterns from the second half of 2024.

Bitcoin in “Interesting Spots” During Support Retest

Current comparisons of Bitcoin prices are drawing attention as market participants note parallels between today’s conditions and the initial stages of a Bull Run.

The focus, according to Galaxy, is on the movement that preceded BTC/USD surpassing its previous all-time high of $73,800 in November 2024.

Back then, similar to now, the pair broke through this level and later worked to retest the Resistance Trend Line as support. Following that, price discovery began in earnest.

“$BTC is in an interesting position,” Galaxy remarked to followers.

“The last time I saw this was between $70,000 and $100,000 before the run.”

The context in August 2025 is different. Right now, trendlines show an upward trajectory rather than downward, and phenomena like macroeconomic challenges are affecting the risk appetite for investors, highlighting issues such as trade tariffs.

As noted by Cointelegraph, the prevailing opinion is that BTC prices will eventually establish a direction after a period of decreased volatility.

Will the New BTC Price Be Lower?

There might be some silver lining for bullish investors when looking at historical price trends.

The analysis has already ruled out any significant resemblance to Bitcoin’s actions earlier in the year that led to the sharpest price decline.

Instead, the peak of $109,300 reached in January is viewed as a key support level moving forward.

Another observation this month saw Galaxy identifying a pattern of Swing Lows. The most recent one occurred last Friday when BTC/USD briefly dipped below $112,000.

Instances of swing lows in April and June previously marked a bottom that was not revisited.

Here’s the pattern.$ BTC pic.twitter.com/nfg5yelddl

This content does not offer investment advice or recommendations. All trading activities carry risk, and readers should conduct their own research before making any decisions.