Bitcoin price has been stuck in a tight range but historical trends and on-chain data suggest a breakout could be coming soon.

Bitcoin (BTC) has been trapped between highs of $84,000 and $82,000 with buyers finding it difficult to push higher. Although the market is still cautious, historical patterns and data point to the possibility of a breakout.

According to analyst Rekt Capital’s Mar. 18 post on X, Bitcoin’s current price action and its movement in June 2021 are similar. Following a steep decline, Bitcoin was trapped between the 21-week and 50-week EMAs.

It eventually broke out in late July and hit an all-time high in November. Currently, Bitcoin is once again in the same range, raising speculation that history could repeat itself.

Rekt Capital further observed that Bitcoin’s …