Bitcoin price has been trapped in a bearish consolidation in the past four months following the end of the first sentiment extreme at around $73k.
Top analysts believe Bitcoin price is preparing for the euphoric phase of the bull run despite the Mt.Gox repayment and the ongoing selloffs by the German government.
Bitcoin’s (BTC) price has established a micro-consolidation range between $58,300 and $55,857 in the past five days. After consistently closing below the 200-day Moving Average (MA) in the past few days, the flagship coin could be on the verge of a major bullish uproar. 
Bitcoin’s daily Relative Strength Index (RSI) has hovered around the oversold levels for the past month suggesting an imminent rebound ahead. Furthermore, Bitcoin’s fear and greed index dropped from around 44% last week to about 27% on Tuesday, July 9, 2024.
According to a popular crypto analyst on X platform alias TechDev, Bitcoin price has been forming a similar fractal pattern to the 2017 bull cycle,

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