Fractals can be assumed unofficial patterns of past that are not categorized , they are specific to a market or instrument , while in contrast, trading patterns (like a double button pattern) are almost general and applicable to several instruments and markets.
Fractals can be great help if apply correctly.
I consider following rules in considering a fractal applicable:
a) Similarity of current market sentiment and a prior fractal.
b) Similarity of current price action status and a past fractal , are both in uptrend, downtrend or in a range.
Considering these fractal from 2017 bull run formed around Sep. 1, 2017 is eligible to show us where btc goes next.
Both that time like now media attention was high and public interest in this technology and trading was at peak, if you check news that period. Further to this like that time btc was in a powerful uptrend.
So we can tell the next move is a powerful reversal upside and very soon ! as we reached a strong support as in 2017 fractal.
Fractals can be great help if apply correctly.
I consider following rules in considering a fractal applicable:
a) Similarity of current market sentiment and a prior fractal.
b) Similarity of current price action status and a past fractal , are both in uptrend, downtrend or in a range.
Considering these fractal from 2017 bull run formed around Sep. 1, 2017 is eligible to show us where btc goes next.
Both that time like now media attention was high and public interest in this technology and trading was at peak, if you check news that period. Further to this like that time btc was in a powerful uptrend.
So we can tell the next move is a powerful reversal upside and very soon ! as we reached a strong support as in 2017 fractal.