Possible Bitcoin Fractal
Updated
When looking at this fractal, we can see the stages are almost identical here. The shapes are maybe not great, but the movement is almost the same.
1) The big rally towards the red zone, making something that looks like a big triangle
2) Breaking upwards, but which becomes a bull trap and we see an ABC correction down (yellow)
3) Then making the parabolic move up
4) Making another bull flag or triangle, just before the next push upwards
Just seeing this one, wanted to post it because of the similarities. But i have not checked anything else, for example what shape the alts were in and the volume profile. I will look at those things tomorrow. So see this fractal post separate from the normal Bitcoin analysis. Where anything is still possible and the levels (support and resistance) there still count.
Another touch of 9400/80 will make a break up likely. But when volume stays low at a possible break out, so when it doesn't show a significant increase, the chances for a Bart move down will be very high! The attempt to break up a few days ago, with the high at 9480 had to little volume and that's why it got pushed back down again.
Maybe good to keep an eye out for, is the bull flag of ETH. In my ETH analysis i showed a possible bull flag in the making, which has been playing out almost perfect so far. So at this point no reason to doubt it yet. What is important with ETH now, because the market is at these highs, that IF a break out happens, it needs to be a big rally and not a slow move up. So doesn't need to be a huge spike, but a good convincing and fast rally up. If that doesn't happen for ETH, things will remain very dangerous IMO. Because when looking at other alts, they are really not believing in another big rally from Bitcoin, at least not yet.
Please don't forget to like if you appreciate this :)
Current Bitcoin analysis:
1) The big rally towards the red zone, making something that looks like a big triangle
2) Breaking upwards, but which becomes a bull trap and we see an ABC correction down (yellow)
3) Then making the parabolic move up
4) Making another bull flag or triangle, just before the next push upwards
Just seeing this one, wanted to post it because of the similarities. But i have not checked anything else, for example what shape the alts were in and the volume profile. I will look at those things tomorrow. So see this fractal post separate from the normal Bitcoin analysis. Where anything is still possible and the levels (support and resistance) there still count.
Another touch of 9400/80 will make a break up likely. But when volume stays low at a possible break out, so when it doesn't show a significant increase, the chances for a Bart move down will be very high! The attempt to break up a few days ago, with the high at 9480 had to little volume and that's why it got pushed back down again.
Maybe good to keep an eye out for, is the bull flag of ETH. In my ETH analysis i showed a possible bull flag in the making, which has been playing out almost perfect so far. So at this point no reason to doubt it yet. What is important with ETH now, because the market is at these highs, that IF a break out happens, it needs to be a big rally and not a slow move up. So doesn't need to be a huge spike, but a good convincing and fast rally up. If that doesn't happen for ETH, things will remain very dangerous IMO. Because when looking at other alts, they are really not believing in another big rally from Bitcoin, at least not yet.
Please don't forget to like if you appreciate this :)
Current Bitcoin analysis:
Note
Update on the fractal
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