• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Invest BTCTry
  • Join STC ICOBuy
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Invest BTCTry
  • Join STC ICOBuy
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news Bitcoin

Crypto Analyst: Bitcoin Continues To Follow Bear Market Bottom Fractal

Tony Spilotro by Tony Spilotro
2 years ago
in Bitcoin, Cryptocurrency news
Reading Time: 3min read
crypto bitcoin fractal bear market
Advertisement

After Bitcoin price 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.

But according to a fractal that appears shockingly similar to Bitcoin’s bear market bottom, the crypto asset has already bottomed and is about to explode back up to retest – and potentially break above – former highs.

Bitcoin Bear Market Fractal Is Too Compelling To Ignore

Fractals 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 and other crypto assets, while others think that they’re not only worthless, but adhering to them can cloud judgment, cause bias to occur, and lead to poor trading results.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Related Reading | Bitcoin Price Fractal Suggests Repeat of September Drop, Is $7K Next? 

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.

After Bitcoin’s 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.

The idea is all based on a fractal that matches up almost perfectly with Bitcoin’s bear market bottom. According to a crypto analyst, the similarities are starting to “get weird” they’re so chillingly accurate.

It's pretty crazy.

$10k $BTC next week?https://t.co/bN8XbFNKTn

— John Smith (@johnsmith3264) October 11, 2019

According to the fractal, the rejection overnight last night that sent Bitcoin price from $8,800 to $8,300 in minutes, mimics the rejection at $4,100 midway through March 2019 – just a couple weeks before Bitcoin broke up out of that trading range and went on a seemingly unstoppable parabolic rally, and generated over 350% ROI for investors who bought the bottom.

Could $10,000 Level Be Reclaimed As Early As Next Week?

Other analysts chimed in on the conversation and added that if the previous lows aren’t broken, Bitcoin price could retest $10,000 as soon as next week. If Bitcoin price can reclaim $10,000 so quickly after a drop, the market will likely view that as extremely bullish, and could result in the first-ever crypto asset continuing on what most believed to be its next bull run.

Related Reading | NVT: Top and Bottom Indicator Signals Time To Buy Bitcoin 

After Bitcoin reclaims $10,000, it will still need to also take back price levels at $11,000, $12,000, $13,000, and break the local high of $14,000 to put an attempt of the previous all-time high of $20,000 on the table.

Featured image from Shutterstock
Tags: Bear marketbitcoinbitcoin pricecryptofractal
TweetShare
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a global remote work leader with a decade of award-winning content experience and excellence. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter and feel free to drop me a line if you would like to work together.

Related Posts

tera block

TeraBlock Launches an AI-powered Trade Automation in Partnership with Binance Cloud

26 mins ago
Dogecoin Holds Strong Against Weekend Flash Crash, What is Happening?

Dogecoin Holds Strong Against Weekend Flash Crash, What is Happening?

3 hours ago
staking

Top Three Staking Coins

5 hours ago
digitex

Digitex Releases An All-In-One Spot & Futures Exchange

6 hours ago
IOTA MIOTA MIOTAUSDT

All Hands on Deck for IOTA’s Chrysalis 2.0, This Is What You Need to Know

18 hours ago
Bitcoin BTC

Why A Central Bank of China Official Said Bitcoin Has Major Role in the Future

19 hours ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
Bybit

Bybit

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Top ICOs

Student Coin

Student Coin

Review · Visit

Token sale

Holdefi

Holdefi

Review · Visit

Press Releases

This 420 Cannabis Holiday, Join the Cannabis Revolution Powered By Cryptocurrency

April 19, 2021

Epik Protocol Announces the Completion of US$5 Million Institutional Fundraising

April 19, 2021

The Best NFT & DeFi Project Token Sale, TimeCoin(Tmcn)

April 19, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Invest BTC
  • Join STC ICO

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.