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Inverse Bitcoin Price Chart Fractal Could Hint Where Crypto Market Moves Next

Tony Spilotro by Tony Spilotro
3 years ago
in Bitcoin, Cryptocurrency news, Technical analysis
Reading Time: 3 mins read
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While crypto investors often argue over the merit of technical analysis, there’s no denying that Bitcoin price charts and that of other most popular crypto assets – or any asset type for that matter – show repeating chart patterns that may indicate where a market may move next.

Occasionally, the same pattens occur in order of sequence. This occurrence is called a fractal, and are often created by the emotional state of market participants.

One prominent crypto analyst has discovered a potential inverse fractal in Bitcoin price charts that may indicate the next strong move in the world of cryptocurrency.

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Inverse Bitcoin Chart Suggests Return to Mean With Powerful Move Up

To remove any chance of bullish or bearish bias from their technical analysis, traders will oftentimes view charts in inverse to try and redraw any conclusions from normal price charts. The practice was used by prominent crypto analyst filbfilb, who flipped a Bitcoin price chart on its head to attempt to glean any patterns from the inverse perspective.

Related Reading | Poll Reveals Majority of Crypto Investors See Bitcoin Price at $100,000 to Millions Long-Term 

The trader discovered a potential inverse fractal that matches the current trading range up closely with the price movements following the June 2018 Bitcoin “bottom” until the November 2018 drop. The 125-day-long zig-zagging price pattern when flipped upside down shows an eerie resemblance, and could indicate that a powerful move to the upside may be in the cards.

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$btc Upset incoming ⏰?

"it will hold again"
"everyone is too bullish" pic.twitter.com/bIe1848ZPp

— f i l ₿ f i l ₿ (@filbfilb) March 27, 2019

The trader’s Twitter commentary accompanying the price charts reminds everyone about the sentiment commonly found amongst the crypto community before the cataclysmic price drop to $3150. At that time, the collective community was convinced that support at $6,000 would be unbreakable, and bullish “hopium” dominated the market.

But after that break below $6,000 bearish sentiment has hit extremes – the complete inverse of the sentiment right before the fall to the current Bitcoin bear market bottom. With sentiment so bearish, and the crypto consensus being that $4,000 resistance won’t easily be bested, could another powerful surprise movement shake up the crypto landscape?

Asset Bubbles Pop, Crash, Then Return to Mean

When viewing the commonly shared chart on bubble cycles put together by Dr. Jean-Paul Rodrigue of the Department of Global Studies and Geography at Hofstra University, and comparing it against the current Bitcoin chart, crypto could very well be in the “despair” phase.

Related Reading | Crypto Analyst: April Is the Last Month to Buy Cheap BTC, Bitcoin Price Never Again $3K

If the crypto market is indeed in the despair phase, a return to mean may be in the cards. With Bitcoin spending so much time at prior support at $6,000, a powerful move up could potentially return Bitcoin to prices witnessed throughout 2018. However, should Bitcoin perform more closely to that of the 2014-2015 bear market, any strong moves up will be rejected back down to the current trading range and will stay there while accumulation occurs.

Tags: bitcoinBubblecryptofilbfilbfractalinverse charttwitter
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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 at @tonyspilotroBTC and feel free to drop me a line if you would like to work together.

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