Bitcoin (BTC) sought to rematch 18-month highs into Nov. 21 as order book activity gave one analyst a sense of deja-vu.

BTC/USD 4-hour chart. Source: TradingViewWhale games conjure Bitcoin’s Q1 2023

Data from Cointelegraph Markets Pro and TradingView showed BTC price momentum building to top out at $37,770 the day prior.

Now circling $37,400, Bitcoin remained in a range, which had also characterized the second week of the month.

For on-chain monitoring resource Material Indicators, however, the market was more akin to Q1 this year — the period which marked the start of Bitcoin’s recovery from post-FTX lows.

Analyzing order book data, it suggested that a major liquidity provider which it…

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