K33 Research highlights that such price movements have been rare since 2017.
On Friday during European trading hours, many traders found themselves puzzled by Bitcoin’s (BTC) price action, and with good reason.
When examining the BTCUSD candlestick chart on Coinbase, one could observe fourteen consecutive green hourly candles, indicating that Bitcoin had posted gains in each of the past 14 hours.
The price surge saw Bitcoin rise from $91,771 to $95,283, beginning on January 9 at 21:00 UTC and continuing through to 10:00 UTC on January 10.
This unusual chart pattern had traders on X scratching their heads.
Vetle Lunde, Senior Analyst at K33 Research, compiled historical data on when this type of streak had last occurred. The current 14-hour green candle streak is the longest since at least January 1, 2017, when Bitcoin recorded 11 consecutive green hourly candles.
However, this isn’t the first time Bitcoin has displayed double-digit green candles in recent years. Similar patterns have appeared on January 14, 2023 (11), February 26, 2024 (11), and November 12, 2024 (11).
The 15th hourly candle has now turned red, potentially signaling the end of the streak, with its close expected at 12:00 UTC.
