BTC’s strange resemblance to the 2018 lower price of $ 3,000 could explode higher
BTC's strange resemblance to the 2018 lower price of $ 3,000 could explode higher
At the moment, the price of the Bitcoin cryptocurrency seems to be moving without a reason or a rhyme. However, cryptocurrency has been declining with a large percentage and resuming manifestations of face fusion on a whim. The entire encryption market is now filled to the brim with only fractals.
What is a fractal?
Fractal is a term that is used in the area of financial analysis. It refers to a situation in which the historical action of the price of an asset is observed during two different occasions for a different asset. Although this type of analysis is not as popular in normal circles, it is very valuable in Bitcoin analysis.
The main reason behind this is the fact that the encryption market is highly cyclical. In fact, it is more cyclical than even the stock market or the entire economic cycle. A strangely factual fractal suggested that Bitcoin is now at the bottom after a 15% decline observed last week. This caused the currency to move to $ 6,000 from $ 8,000.
Fractals now suggest that BTC has hit bottom
Cantering Clark is the latest professional in the market who makes suggestions on the price of Bitcoin. Clark is one of the main cryptocurrency operators. He has declared that there is a strange resemblance between the currency price actions witnessed a few days ago and the accumulation action and the fund price witnessed at the end of 2018 and at the beginning of the year.
The price action witnessed some time ago and now resembles what was seen at the beginning of the year. This is in terms of the directionality that the currency has taken. There are drops now that are similar to the drops seen towards the end of 2018.
Bitcoin could explode soon
There are things that can happen when the fractal develops. The fractal suggests that BTC may be about to explode further, perhaps beyond the price of $ 8,000. The price could even rise if the bulls continue to rise.
More Bitcoin Analysis
The fractal aligns with one of Stillman, another great cryptocurrency expert. He noted that the price of the currency towards the end of the month, when it reached the price of $ 6,500, closely resembled the bottom of 2018.
The current price action for Bitcoin during some of the last days of November appeared as it did during the historic cryptocurrency market fund that was witnessed on December 15th. There is also a confluence of patterns and structures witnessed at that time that were revealed on the charts in November 2018. In fact, even the RSI printed the same pattern.