{"id":404535,"date":"2019-11-16T08:56:24","date_gmt":"2019-11-16T08:56:24","guid":{"rendered":"https:\/\/wncen.com\/?p=404535"},"modified":"2024-06-11T13:34:10","modified_gmt":"2024-06-11T13:34:10","slug":"eerily-accurate-fractal-suggests-bitcoin-price-fall-25","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/eerily-accurate-fractal-suggests-bitcoin-price-fall-25\/","title":{"rendered":"Eerily Accurate Fractal Suggests Bitcoin (BTC) Price to Fall 25%"},"content":{"rendered":"

While\u00a0Bitcoin\u2019s<\/a>\u00a0price seemingly moves without rhyme or reason \u2014 collapsing by dozens of percent and embarking on face-melting rallies on a whim \u2014 the cryptocurrency market is filled to the brim with fractals.<\/p>\n

Related Reading: Blockchain and Crypto: Binance CEO Has High Hopes for the Future<\/a><\/h6>\n

A brief aside: A fractal, in the context of technical analysis and financial markets anyway, is when an asset\u2019s price action is seen during a different time. This form of analysis isn\u2019t that popular, but it has proven to be\u00a0somewhat valuable<\/a>\u00a0in analyzing Bitcoin.<\/p>\n

One eerily accurate fractal suggests that the recent bout of pain that the crypto market has seen will continue. In fact, it suggests that the price of BTC will fall by 25% in the coming weeks \u2014 then return to where it is trading at now by the start of next year.<\/p>\n

Bitcoin Ready to Fall by 25%<\/strong><\/h2>\n

For the past few months, popular crypto trader NebraskanGooner<\/a> has been tracking a fractal of the leading cryptocurrency. Bitcoin has been tracing this fractal, whose origin is seemingly the bull run and subsequent bear market of 2014\/2015, “almost [perfectly] since I started watching it in September.”<\/p>\n

Indeed, as can be seen below, BTC’s recent price action, including the 42% jump seen late last month<\/a>, line up with the fractal. Should the fractal continue to hold its water, Bitcoin will dip to the $6,700 level by the end of the year, representing a 25% drop from the current price of $8,500.<\/p>\n

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#bitcoin<\/a><\/p>\n

According to this fractal:<\/p>\n

1. Dip to $8,250 area.<\/p>\n

2. Bounce to $8,600 area.<\/p>\n

3. Dip to $6,700 area.<\/p>\n

I'm not trading based off this fractal but it's been following along almost exactly since I started watching it in September. pic.twitter.com\/QirnnHZUB8<\/a><\/p>\n

— Nebraskangooner (@Nebraskangooner) November 15, 2019<\/a><\/p><\/blockquote>\n