BITCOIN $12350 Target hit. Remember this fractal?

18 Agu 2020

Bitcoin hit yesterday my $12350 as suggested on the following idea last week:

But what's next? The obvious thing to do is keep following this accurate fractal comparison. For that reason I have made an extension of the pattern.

As seen on the chart what followed after Fractal A made its (G) top, it entered into a Channel Down that led to a pull-back almost as low as the (F) Low. A short consolidation succeeded this pull-back, that paved the way to the new Parabolic Rise of Fractal B.

Looking also closely at the LMACD and RSI, they are currently repeating the Fractal A sequences.

Of course every situation is different and BTC doesn't have to follow the exact same pattern. But historically Bitcoin tends to repeat sequences within its long-term cycles.

Do you think this move can be repeated? Feel free to share your work and let me know in the comments section!

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