Bitcoin Fractal That Crashed BTC/USD by 50% Flashes Again in 2021
Bitcoin is showing signs of replicating its trend from 2019 that crashed its prices by more than 50 percent.
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The flagship cryptocurrency closed the previous week below its 21-week exponential moving average for the 19th time in history, triggering additional selloff risks. Last week's drop in Bitcoin (BTC) that saw BTC price falling from $47,358 to $43,178 has sparked fears of an extended selloff.Independent market analyst Nunya Bizniz highlighted a bearish fractal on Bitcoin's weekly charts concerning its 21-week exponential moving average (EMA). In detail, the cryptocurrency has closed below the said support zone 18 times to date but retained its previous bullish bias only four times out of....
Bitcoin’s weekly chart is showing an uncomfortable comparison to one of the most brutal sell-offs in its history, and at least one analyst believes the worst may still be ahead. This technical outlook is looking at the current price action as a mirror of the 2022 macro fractal sequence that sent Bitcoin from $69,000 to a cycle low near $15,500, implying that the current cycle could see a similar drop. Related Reading: Bitcoin ETF Hype Hits Ceiling, Sharp Drop Risk Emerges: Analyst A 2022 Repeat? The Fractal That Raises Concerns Crypto analyst philarekt posted a warning on X this....
Crypto analyst Merlijn revealed that Bitcoin has flashed the most powerful fractal in the markets right now. This comes amid BTC’s rally to a one-month high of $75,000 despite the escalating tensions between the U.S. and Iran. Bitcoin Flashes Most Powerful Fractal In Markets Right Now In an X post, Merlijn stated that Bitcoin has formed the most powerful fractal in the market right now. He noted that gold had formed this structure in 1974, when it completed three waves, followed by a Fibonacci extension and a parabolic move. Now, BTC is forming an identical structure, with the third step....
During the last bull market, in what is popularly known as the Solana meme coin season, a number of new cryptocurrencies made their way to the forefront. These digital assets had gone from market caps in the tens of millions to cross the billion-dollar market cap, sometimes in only a matter of months. Due to their rapid growth rate, these meme coins have quickly garnered a wide holder base. However, as the bear market has rolled around, these billion-dollar meme coins have crashed by a large margin, completely eliminating the majority of their gains. POPCAT Meme Coin Goes From $2 Billion....
Bitcoin today smashed above $20,000 and recaptured mainstream media headlines everywhere. FOMO is now full steam, and there’s no telling where the cryptocurrency might stop – unless a fractal forming plays out exactly as it has in past instances of the repeating pattern. Bulls need to fear not, however, as the same fractal suggests that […]