🔥 Bitcoin Bullish Fractal: Major Move Incoming?
Over the last couple of weeks we've seen some strong bearish price action from Bitcoin. With many investors calling for a bear market, sentiment is currently very low. However, there might be some light at the end of the tunnel.
If we compare the first couple of months after the Corona crash with the period from August - December, we can clearly see that there's a resemblance in the price movement.
Fractals like these can often shed some insight on the expected price movements of an asset. However, there is no certainty it will actually occur, be aware of that.
The fractal is as follows:
- 2 bullish impulses, followed by corrections.
- The second corrections breaks bearish through the bullish trend line, forming a bear trap.
- The second correction ends up to be the last correction before a massive bullish impulse.
Assuming that this pattern will hold, we might see some very strong bullish price action coming our way in the near future. However, don't base your investments solely on this fractal since there is no certainty it will happen again.
Happy trading!
If we compare the first couple of months after the Corona crash with the period from August - December, we can clearly see that there's a resemblance in the price movement.
Fractals like these can often shed some insight on the expected price movements of an asset. However, there is no certainty it will actually occur, be aware of that.
The fractal is as follows:
- 2 bullish impulses, followed by corrections.
- The second corrections breaks bearish through the bullish trend line, forming a bear trap.
- The second correction ends up to be the last correction before a massive bullish impulse.
Assuming that this pattern will hold, we might see some very strong bullish price action coming our way in the near future. However, don't base your investments solely on this fractal since there is no certainty it will happen again.
Happy trading!
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