Fractal Analysis: Bitcoin Will Undergo a Slight Correction Towards $11,000
Bitcoin may not sustain its highs after pushing as high as $11,500 on Friday evening. One trader recently noted that a simple fractal analysis suggests the coin will undergo a retracement after hitting $11,400. The trader said that the cryptocurrency has some similarities to price action around two weeks ago. While the fractal may be valid in its own right, the discussion around the next fiscal stimulus bill in the U.S. is likely to drive […]
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Bitcoin has embarked on a spectacular rally over the past few months. After bottoming in the $3,000s in the March, the asset surged as high as $12,500. Bitcoin currently trades for $10,700, still far above where it was in the March crash. A fractal predicts that the asset may soon undergo a strong bearish reversal. This comes in spite of on-chain trends that suggest the proverbial Bitcoin ball is in the court of bulls. Bitcoin […]
Bitcoin has undergone a strong rally over the past few weeks, pushing as high as $16,500. Analysts are starting to fear that a correction is due, though. One crypto-asset analyst recently shared a fractal showing that the cryptocurrency is trading in a remarkably similar way to how it did during the 2017 highs at $20,000. […]
The bearish analogy borrows evidence from an eerily accurate fractal on the cusp of repeating for the third time since March 2020.
Yearn.finance’s native token, YFI, is expected to outperform into 2021 due to fundamental and technical trends. A leading crypto-asset analyst recently shared that YFI’s recent price action looks extremely similar to that of Ethereum prior to the cryptocurrency’s major bull run in 2017. This fractal comparison suggests that Yearn.finance’s native token will undergo an extreme […]
Bitcoin is trading at over $20,000, but the start of what might be the first real correction since the uptrend first began could be forming. However, looking more closely at the DXY Dollar Currency Index, the leading cryptocurrency by market cap could be in for another extended bear phase if a fractal on the dollar […]