BitcoinLong
🔥 Bitcoin Following 2018 Bear Fractal: The Bottom Is In?
In today's analysis I want to make a case for the idea that BTC has bottomed and that we're likely to see more bullish price action in the future.
The chart speaks for itself.
Yellow: initial dump before capitulation
Purple: sideways low volatility.
Trendlines: they're becoming increasingly steep, indicating bullish movement.
Assuming that we're currently indeed following the 2018 fractal, it's likely that we're going to see more bullish price action in the near future. Potentially we can even move up to 40k or so.
However, we're not out of the woods yet. A couple of days I made an analysis on the stock markets where I argued we could potentially see a capitulation event unfold. If this were to happen, the fractal would obviously not hold up.
Disclaimer about fractals: fractals offer no direct trading opportunities as they are valid until they aren't. However, it's still interesting to look at fractals since they can offer a general idea of the market's direction.
The chart speaks for itself.
Yellow: initial dump before capitulation
Purple: sideways low volatility.
Trendlines: they're becoming increasingly steep, indicating bullish movement.
Assuming that we're currently indeed following the 2018 fractal, it's likely that we're going to see more bullish price action in the near future. Potentially we can even move up to 40k or so.
However, we're not out of the woods yet. A couple of days I made an analysis on the stock markets where I argued we could potentially see a capitulation event unfold. If this were to happen, the fractal would obviously not hold up.
Disclaimer about fractals: fractals offer no direct trading opportunities as they are valid until they aren't. However, it's still interesting to look at fractals since they can offer a general idea of the market's direction.
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