Possible Fractal Bottom Idea for Bitcoin
Updated
Bitcoin (BTC) has recently taken a nosedive in price. Here's one theory I've had over how the next breakout could play out. In 2018 the dump was started by a descending triangle, in 2020, a H&S formed before a large drop in price. I believe there is a decent chance we see a few weeks of consolidation and a bottoming pattern.
Note
Prices moving up faster than initially predicted. Counting this dump as more of a squeeze / shakeout than a genuine dump.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.