BITCOIN 50% FIB FRACTAL | ACCUMULATION UNDER 50% FIB - $7400
Updated
2015
2020 vs 2015 Similarities
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Summary of Both Charts:
VERDICT: Bitcoin to remain under $7400 and trade sideways for a few months, bouncing between $3800 and $7400
- 50% Fibonacci Level held as a pivot as price traded under it whilst testing it
- 50% Fibonacci was re-tested upon breakout
- Capitulation was -65%
- Capitulation wick was -22% below the close
- Price simply traded sideways within a range
2020 vs 2015 Similarities
- 50% Fibonacci Level being tested as of now and this is a key pivot zone
- Capitulation was -62% which is similar to -65% of 2015
- Capitulation wick was -26% below the close which is similar to -22% of 2015
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Summary of Both Charts:
- Big Capitulation
- Initial Retracement
- Sideways Accumulation Between Low & Retracement Level
VERDICT: Bitcoin to remain under $7400 and trade sideways for a few months, bouncing between $3800 and $7400
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