The price of Bitcoins once again showed stubbornness, overcoming the resistance of $ 100,000 and is still increasing. It seems that this is equal to the leading cryptocurrency course according to market capitalization, because the sentiment has returned to positive territory over the past few days. Along with the trend played, the cryptographic analyst explained that the price of Bitcoins actually reflects an vital fractal four years ago, which usually led to bull markets.
Bitcoin Fractal since 2020 Returns
IN Post TradingviewCrypto Analyst Tradingshot explained that the current Bitcoin trend reflects the one from 2020 and that both fractals move similarly to each other. The price action seems to be the same, especially in the case of accumulation and distribution in a similar way.
In the Bitcoin accumulation phase, he saw the initial first phase to take place between May and August in 2020, and now a similar accumulation took place between March and September in 2024, as in 2020, the accumulation in 2024 ended the stubborn rally, which he saw The price of bitcoins goes from below USD 70,000 to over $ 100,000 within a few months. It is similar to a rally from below USD 9,000 to over USD 12,000, which took place in 2020.
What happened after both times was the distribution period in which The Bitcoin price has suffered down and sideways for many months. This took place at the beginning of 2025, in the same way that was seen between August and October 2020. Now the second accumulation trend has been completed, as in 2020, and if it continues, it may end in the minimum of digital assets.
As a result, the Bitcoins price has now ruined the rotary trend line separating the distribution from the second accumulation trend. During the post of cryptographic analyst, the price of Bitcoins was in the again phase, which it tested for USD 97,000. Since then, the price of Bitcoins has spoiled this zone again and, as a result, meant an upward trend.
Currently 50-day movable average, USD 97 100It still serves as a support for cryptocurrency and this is a level that Bulls will have to keep to continue the price rally. The analyst explains that as long as this level is maintained, the price of Bitcoins can see a rally similar to what they saw between October 2020 and April 2021.
If this fractal takes place as before, the goal of the Bitcoins price is USD 150,000 in this cycle. Other macro achievements, such as the Fed, deciding to maintain interest rates in the same way and do not raise them, also dared investors to risk assets such as Bitcoin.
A distinguished picture from Dall.e, chart from tradingview.com
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