BTC growth to $50.5k hit the BEARS right on their belly ! The bullish rally continued for more than a month and it's time has finally arrived to come to an end. If we look at the current scenario, we can find the price action aligning with market sentiments (Fear & Greed Index made a high of 79, the day before yesterday) and further the breakdown of the uptrend line indicating bearishness, overall.
Now, the rally shall calm and the price development shall bring forth a nice healthy retracement driving the prices back to the areas which were previously acting as resistance zones now turned as support zones (45.6k - 44k & 42.8k - 40k).
So, here's the Price Fractal of BTC on a daily time-frame. There's no requirement needed to explain the fractal as it speaks for itself, however, it's more of an speculation as we know that although, history might not repeat itself everytime but it does rhyme and no matter how you look at it the future tends to differ from the past due to various reasons. The month of September is believed to be a negative month for BTC and for this year how it ends will unfold when the time comes till then let's observe and LOAD UP as much as we can.
DYOR
CryptoCuriousOfficial 📥
Now, the rally shall calm and the price development shall bring forth a nice healthy retracement driving the prices back to the areas which were previously acting as resistance zones now turned as support zones (45.6k - 44k & 42.8k - 40k).
So, here's the Price Fractal of BTC on a daily time-frame. There's no requirement needed to explain the fractal as it speaks for itself, however, it's more of an speculation as we know that although, history might not repeat itself everytime but it does rhyme and no matter how you look at it the future tends to differ from the past due to various reasons. The month of September is believed to be a negative month for BTC and for this year how it ends will unfold when the time comes till then let's observe and LOAD UP as much as we can.
DYOR
CryptoCuriousOfficial 📥
