This Eerie Bitcoin Fractal Sees Price above $70,000 by mid-2021

This Eerie Bitcoin Fractal Sees Price above $70,000 by mid-2021


Bitcoin is on the cusp of breaking out towards levels above $70,000, according to an eerily identical fractal. Spotted first by Artem Shevelev, a market analyst, the pattern shows Bitcoin in a seven-stage development. Each stage reflects price moves and technical indicators similar to the ones that eventually pushed Bitcoin to its all-time high at $20,000 in December 2017.

As Bitcoin stays motionless near $9,100, one of its old fractals is pointing to a full-fledged breakout towards $70,000 or above.

Spotted first by Artem Shevelev, a TradingView-based market analyst, the pattern shows Bitcoin in a seven-stage bullish development. So it seems, the cryptocurrency’s run-up to its all-time high near $20,000 in December 2017 succeeded six steps, each involving specific price moves, and indicators.

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Mr. Shevelev noted that Bitcoin has been forming the very same pattern since 2017. It is trading inside a giant Symmetrical Triangle while undergoing phases that include medium-sized ascending/descending triangles, so-called “flat zones,” inverse triangles, and

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