Fractal pointing for another correction! Short

Bitcoin / U.S. dollarBitstamp

Description

⋅ Jan 20, 2021 12:02 AM

After breaking ATH on Mar'17 at aroud 1280 $ we got a -30% correction.

If we take the fractalic price-action from the bottom of that correction up to the top of the bullish impulse that followed it we get something really interesting.
This price-action is almost identical to what we are experiencing right now. Last month after breaking the previous ATH we got a correction, hit the bottom of it (red circle) and then got the bullish impulse that we ended on 9th of January. If we compare this moves, from the bottom to the top of the impulse we discover that the correlation is stunning... 90% at least.

The fractal is pointing to a retracement till 28k $. This means another -20% from the curent level, to a total of... -30% from the recent peak.

Let's see if history repeats itself!

GL&HF ;)

Trend Analysis Chart Patterns

Comments

SDlektric

⋅ Jan 21, 2021 11:07 PM

What happens next according to the fractal?

lucamodena

⋅ Jan 23, 2021 1:49 PM

@SDlektric, It goes to 60k and there will be another -30% correction.

TheSignalyst

⋅ Jan 21, 2021 2:59 PM

good catch buddy! good luck

lucamodena

⋅ Jan 23, 2021 1:47 PM

@TheSignalyst, Thanks! good luck to you too! All the best.

digiticez

⋅ Jan 21, 2021 1:18 PM

where do you get the fractals?

marulanos

⋅ Jan 23, 2021 1:13 PM

Hey luca are we going all the way to 20k next week?

lucamodena

⋅ Jan 23, 2021 1:49 PM

@marulanos, I really don't think so.

Checkmate3355

⋅ Jan 20, 2021 2:54 AM

Don't get rekt. We're going for 46K

lucamodena

⋅ Jan 20, 2021 10:24 AM

@Checkmate3355, ETH bouncing from it's ATH. The fractal till now has been really accurate. Another 20% correction would be extremely healthy for this market.