{"id":401170,"date":"2019-10-11T20:00:43","date_gmt":"2019-10-11T20:00:43","guid":{"rendered":"https:\/\/wncen.com\/?p=401170"},"modified":"2024-06-11T13:31:00","modified_gmt":"2024-06-11T13:31:00","slug":"crypto-analyst-bitcoin-continues-to-follow-bear-market-bottom-fractal","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/crypto-analyst-bitcoin-continues-to-follow-bear-market-bottom-fractal\/","title":{"rendered":"Crypto Analyst: Bitcoin Continues To Follow Bear Market Bottom Fractal"},"content":{"rendered":"

After Bitcoin price<\/a> broke down from its multi-month triangle formation, the entire crypto market is watching, waiting, and wondering where the bottom of the current downtrend is.<\/span><\/p>\n

But according to a fractal that appears shockingly similar to Bitcoin\u2019s bear market bottom, the crypto asset has already bottomed and is about to explode back up to retest \u2013 and potentially break above \u2013 former highs.<\/span><\/p>\n

Bitcoin Bear Market Fractal Is Too Compelling To Ignore<\/span><\/h2>\n

Fractals<\/a> are among the most contested chart patterns of the crypto analyst community. Some believe that fractals can be like roadmaps for predicting price movements in assets like Bitcoin<\/a> and other crypto assets, while others think that they\u2019re not only worthless, but adhering to them can cloud judgment, cause bias to occur, and lead to poor trading results.<\/span><\/p>\n

Related Reading | Bitcoin Price Fractal Suggests Repeat of September Drop, Is $7K Next?\u00a0<\/a><\/strong><\/em><\/p>\n

However, oftentimes, these fractals can be so compelling by comparison to past price movements, they become difficult to ignore. Such is the case with the current price action playing out in Bitcoin markets following the deep September drop.<\/span><\/p>\n

After Bitcoin\u2019s triangle broke down, it resulted in a powerful $2,000 drop to from $10,000 to $8,000, and leading crypto asset by market cap has struggled to even make an attempt at getting back over $9,000 so far. But if this fractal plays out not only will $9,000 be broken, but $10,000 will be reclaimed, and Bitcoin will go on to set a new all-time high.<\/span><\/p>\n

The idea is all based on a fractal that matches up almost perfectly with Bitcoin\u2019s bear market bottom. According to a crypto analyst, the similarities are starting to \u201cget weird\u201d they\u2019re so chillingly accurate.<\/span><\/p>\n

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It's pretty crazy.<\/p>\n

$10k $BTC<\/a> next week?https:\/\/t.co\/bN8XbFNKTn<\/a><\/p>\n

— JohnAlt (@johnsmith3264) October 11, 2019<\/a><\/p><\/blockquote>\n