Bitcoin’s current market structure bears a striking resemblance to its 2017 bull run, which saw the cryptocurrency surge by a staggering 1,200% to reach a record high of $20,000, according to renowned crypto analyst TechDev. With a chart shared on the social media platform X, TechDev suggests that the current market cycle closely mirrors that of 2017, with both bear markets hitting their lows during major crypto exchange crashes, followed by subsequent rallies and consolidation periods. The analyst emphasizes the familiar pattern, stating, “The more things change, the more they stay the same.” The chart indicates that BTC is currently in a consolidation phase similar to 2017 when it traded around $1,500 before experiencing a parabolic rise. As of now, Bitcoin is valued at $67,060. TechDev also examines Bitcoin’s relative strength index (RSI), which historically peaks when the cryptocurrency reaches the top of a long-term channel. However, the RSI has not yet reached this level. On another note, TechDev analyzes the OTHERS chart, which tracks the market cap of all cryptocurrencies excluding the top 10 digital assets and stablecoins. In particular, the analyst looks at the chart’s stochastic RSI, moving average convergence divergence (MACD), and logarithmic Bollinger Band indicator. The MACD is traditionally used to identify reversals based on the convergence or divergence of moving averages, while the Bollinger Bands help identify periods of impending sharp price movements based on volatility contraction. TechDev points out that the OTHERS chart has reached a “max compression” zone, suggesting an imminent upward movement. Interestingly, this setup coincides with the return of “Roaring Kitty,” the individual who led the Gamestop (GME) price surge in 2021. TechDev concludes, “Roaring Kitty returns as this alt setup reappears. There are no coincidences.” It is worth noting that the information provided by The Daily Hodl is not investment advice and recommends that investors conduct thorough research before engaging in high-risk investments in Bitcoin or other cryptocurrencies.