If we ignore the covid19 drop in march one could draw this trendline leading to the real value of bitcoin at 24k which may act as a magnet pulling it up. Interestingly, the macd is over 500 and when compared to 2017 if it gets over 1k then its most likely the top.
Scroll on the chart to the left and zoom in to see what i compare to 20k and 13k triangles and show the resulting outcome. This view from the left side fractal also shows a target of 40k and much higher if you keep using the date and price tool to extrapolate the graph.
It is clear this is a mini 2017 fractal and according to the last breakout i've mapped the trajectory uaing the price and date tool. First to 22k then a small correction to 18k going into may 2020 halving and then another huge pump to 40k. Not financial advice.
As you can see a candle close below the 200ma is normal in a bull market. a rebound to the upside is most likely here as the fud from the hash difficulty was misinformation because of slow blocks and estimate errors. New ATH are still in sight. However if this level breaks down a bear market could be in effect.
Bitcoin has bounced off of the trendline from january and is about to breakout of this trangle for a 30% gain as it hugs the trend line as support it will retest the resistance at 10800 and pop out to over 13k.
According to the historical fractal down when we broke out of 5800, we will see a range from 7500 to 7800 as we exit the Blue box, if price jumps here instead of ranging then we enter the Green box when we cross 7800 and go up to 8700. From there if it doesnt break 8700 it could test the bottom of the Green box at 8300. From there it enters the Pink box where it...