In today's analysis I want to make a case for the idea that BTC has bottomed and that we're likely to see more bullish price action in the future.
The chart speaks for itself. Yellow: initial dump before capitulation Purple: sideways low volatility. Trendlines: they're becoming increasingly steep, indicating bullish movement.
Assuming that we're currently indeed following the 2018 fractal, it's likely that we're going to see more bullish price action in the near future. Potentially we can even move up to 40k or so.
However, we're not out of the woods yet. A couple of days I made an analysis on the stock markets where I argued we could potentially see a capitulation event unfold. If this were to happen, the fractal would obviously not hold up.
Disclaimer about fractals: fractals offer no direct trading opportunities as they are valid until they aren't. However, it's still interesting to look at fractals since they can offer a general idea of the market's direction.
Sorry but this idea is crap. On 2018 its a timeframe of 11 months. In 2022 its a time frame of 5 months. The rally on 2018 was about 5 months. On 2022 we have only 30 days. 2018 a year with no inflation and zero interest rates. 2022 high inflation, ongoing rise of interest rates and the economy is in a recession. You can’t compare 2018 with 2022
FieryTrading
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@maxxxpower, Fractals do not need the same timeframe. You can easily compare a 1H timeframe fractal with a 1W timeframe. It's not about time, it's about the pattern.
You're correct on the interest/inflation. Hard to predict what BTC will do during a real recession.
reggertjr
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@maxxxpower, market looks 6 months into the future, not present. 6 months from now the market is anticipating QE, lower inflation and declining interest rates.
happytradesmore
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Unfortunately the Fed isn't following their 2018/2019 pattern
masoudmemari311
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No no no Drap base drap base Drap base diamond path and drop
scratchticket
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@masoudmemari311, "Drap base drap base Drap base diamond path and drop" nobody here can read so please chart it for us so we can understand you, thanks in advance