Bitcoin Is Repeating 1972 Gold Breakout Setup, Fueling Bullish Pump Speculations

• Bitcoin is repeating 1972 gold breakout setup.

• This pattern fuels bullish pump speculations across the crypto community.

• One analyst says $1 million BTC ATH target is still a possibility.

The crypto community remains anxious as the price of Bitcoin (BTC), the pioneer crypto asset, continues to trade under the $70,000 price range. Presently, sentiments are still being torn over bearish and bullish expectations. Most recently, bullish analysts are growing eager as Bitcoin is repeating 1972 gold breakout setup, fueling bullish pump speculations. Will BTC set a new ATH this year?

Bitcoin Is Repeating 1972 Gold Breakout Setup

Over the past few days, bearish sentiments have grown stronger as the price of BTC fell under the $70,000 price range. Several bearish analysts highlighted a few bullish patterns that failed to break or hold at the right price range, causing a retreat back towards bearish price action for the pioneer crypto asset. One of the most crucial being BTC’s pump to $74,000 and failure to break past a critical $77,000 bull target.

BTC Bullish Pump Speculations Rise

Another bullish pattern that failed to break was a bullish head and shoulder pattern, which failed to bounce, leading to a call for the price of BTC to sink even lower over the coming weeks or months. Thus, bearish analysts were certain that the price of BTC would go on towards hitting much lower price targets over the coming months. Presently, bear targets are set for the price bottom range between $40,000 – $50,000.

$BTC REPEATING 1972 GOLD BREAKOUT SETUP

GOLD ABOUT TO ENTER MULTI-YEAR DOWNTREND

BTC WILL BREAK NEW HIGHS DUE TO ABSOLUTE SCARCITY

GREATEST LIQUIDITY ROTATION ABOUT TO START SOON

POSITION ACCORDINGLY! pic.twitter.com/FTl8iEgeVq

— philarekt (@philarekt) March 31, 2026

In contrast, bullish analysts are sharing observed price chart patterns of their own, ones that support a bullish surge for the price of Bitcoin (BTC). As we can see from the post above, Bitcoin is repeating the 1972 gold breakout setup. The chart and video accompanying the post go on to explain how gold is about to enter a multi-year downtrend and how this will result in BTC breaking new highs caused by asset scarcity.

THE MONTHLY RSI JUST TOUCHED THE LINE.

It did this in 2019.
It did this in 2023.
It’s doing it now.

$60K is the level.

Hold it: channel survives, $1M is the target.
Lose it: first channel break in Bitcoin’s history.

Two data points became a pattern. You’re at the third. pic.twitter.com/itOUkUF8pD

— Merlijn The Trader (@MerlijnTrader) March 31, 2026

Likewise, another bullish analyst notices another promising pump signal on the BTC chart. As we can see from the post above, this popular crypto analyst and trader highlights how the monthly RSI just hit a crucial line on the BTC price chart. He then sheds light on how BTC pulled the same moves in 2019 and 2013 as well, both times, the price of BTC surges exponentially.

Presently, BTC set this pattern again around the $60,000 price level. The analyst says that if BTC manages to hold the line, then a bull target of $1 million is expected for the pioneer crypto asset. However, if the line fails to hold, then this would mark the first channel break in Bitcoin’s history. Responses to the post add to the conversation, showing cautious steps being taken by traders across the market.