Bitcoin following the Bull Fractal of 2016

24 янв. 2021 г.

Hi everyone!

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Since our last short-term chart, Bitcoin clearly bottomed at the 1D Bollinger Bottom Band at $30,500-29,500 which was a great buy/long. But some weakness presented itself on Friday and Bitcoin could not find the strength to break up to 35,600 before the weekend. This is just temporary hence the detailed chart I am presenting you.

So to compliment the previous short-term chart, I have another fractal to present that came to mind yesterday after waking up from a good night of sleep which is the fractal of 2016 with a similar short-term top and sell off. The fractal points to a potential double bottom at $30,500-29,500 around January 24 through 28 then the continuation of the Megabull slowly and gradually as we head up to $35,600-36,200 then eventually within a month or so to $60,000-62,000.

Best of luck and happy trading!
Carl M.

24 янв. 2021 г.

Сделка активна

I think the log version of this fractal makes more sense. But lets be patient and let the consolidation lead the way.

26 янв. 2021 г.

Заметка

Looking good. Holding nicely above $30,500-29,500. Still another day or two before we are ready to reverse up and break out of this chop.