Bitcoin / TetherUSShort
🔥 Bitcoin Following 2018 Bear Fractal: New Low Coming
Recently I've been looking at previous bear-markets to see if we can compare the current state of the market with the ones before. I found that the current market looks very similar to the bear-market capitulation fractal of late 2018.
I've drawn 1-2-3 on the chart to make the comparison more clear. Can't deny that we're currently in a very similar position as we were in late 2018.
Also note that I've not changed the size of the fractal. That being said, it's very interesting to see that the fractal started and 'ended' at the same position that we currently are, see the dotted purple lines.
If BTC will follow this fractal, we can expect one new low in the near future. My assumption is that this will bring us to the purple marked area, ranging from 16.5k to 15k and will occur somewhere in July.
Be aware that fractals will rarely play out the same way. It's merely an indication of something that could potentially happen, so don't base your trading behavior on it. Nevertheless, fractals can offer new insights.
Do you think BTC will follow this fractal? Share your thoughts below.
I've drawn 1-2-3 on the chart to make the comparison more clear. Can't deny that we're currently in a very similar position as we were in late 2018.
Also note that I've not changed the size of the fractal. That being said, it's very interesting to see that the fractal started and 'ended' at the same position that we currently are, see the dotted purple lines.
If BTC will follow this fractal, we can expect one new low in the near future. My assumption is that this will bring us to the purple marked area, ranging from 16.5k to 15k and will occur somewhere in July.
Be aware that fractals will rarely play out the same way. It's merely an indication of something that could potentially happen, so don't base your trading behavior on it. Nevertheless, fractals can offer new insights.
Do you think BTC will follow this fractal? Share your thoughts below.
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