BitcoinLong
Missed fractals?
Updated
Hi, dear friends! 🫶 Missed fractals? I hope You did, because today I'm going to show You one of them.🤭
A fractal in trading refers to a recurring pattern that can predict future price movements. They play a significant role in technical analysis, offering insights into potential market trends.
In November-December 2020, Bitcoin's price formed a pattern that I highlighted on the chart with a white rectangle. I've enlarged this pattern for you using a 9-hour chart.
By overlaying the shadow of this movement onto the current price formation, we can see that the price is moving in a similar fashion. This suggests that the price might replicate this fractal: if it does, we could see Bitcoin's price reach $62,500, followed by a sharp increase.
Continuing with this observation, it's important to monitor the market closely. If the fractal pattern holds true, traders could capitalize on the expected price movement. However, it's also crucial to consider other market factors and indicators to make well-informed trading decisions.
In conclusion, while fractals offer valuable insights, they should be used in conjunction with other technical analysis tools to enhance accuracy. Keep an eye on the market and stay informed to make the most out of these patterns.
Thanks for Your attention💋
Always sincerely Yours, Kateryna💙💛
A fractal in trading refers to a recurring pattern that can predict future price movements. They play a significant role in technical analysis, offering insights into potential market trends.
In November-December 2020, Bitcoin's price formed a pattern that I highlighted on the chart with a white rectangle. I've enlarged this pattern for you using a 9-hour chart.
By overlaying the shadow of this movement onto the current price formation, we can see that the price is moving in a similar fashion. This suggests that the price might replicate this fractal: if it does, we could see Bitcoin's price reach $62,500, followed by a sharp increase.
Continuing with this observation, it's important to monitor the market closely. If the fractal pattern holds true, traders could capitalize on the expected price movement. However, it's also crucial to consider other market factors and indicators to make well-informed trading decisions.
In conclusion, while fractals offer valuable insights, they should be used in conjunction with other technical analysis tools to enhance accuracy. Keep an eye on the market and stay informed to make the most out of these patterns.
Thanks for Your attention💋
Always sincerely Yours, Kateryna💙💛
Note
The price has reached $60,700 and is now trading close to the support line. Do you think we will see a rebound or a further decline? Share your opinions! 💋🧐
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