Bitcoin Fractal
Fractal
Since August, fractal similar to May month is forming. This fractal is of 3 months (May to July) length and repeats after 3 month (August to October). Fractal holds similarities in price action like continuous rise in price for days, sudden big price fall, low and high in pattern are at same arrangement. This same pattern follows from October onwards.
Support:
Parabola formed becomes resistance to fractal after which price reverse back but now this parabola is broken and now this acts as a support.
Previous Zone between 13000 to 14000 is another big support level.
100 Daily MA had been support for both May and August, so it is a possible support. I have extended MA 100 line expecting such formation.
Their is one possibilty that BTC will keep moving along resistance and will bounce up wherever fractal had pumps.
Invalid:
This fractal could fail if BTC keeps on moving up breaking resistance.
Since August, fractal similar to May month is forming. This fractal is of 3 months (May to July) length and repeats after 3 month (August to October). Fractal holds similarities in price action like continuous rise in price for days, sudden big price fall, low and high in pattern are at same arrangement. This same pattern follows from October onwards.
Support:
Parabola formed becomes resistance to fractal after which price reverse back but now this parabola is broken and now this acts as a support.
Previous Zone between 13000 to 14000 is another big support level.
100 Daily MA had been support for both May and August, so it is a possible support. I have extended MA 100 line expecting such formation.
Their is one possibilty that BTC will keep moving along resistance and will bounce up wherever fractal had pumps.
Invalid:
This fractal could fail if BTC keeps on moving up breaking resistance.
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