The majority of fractals from the previous bear market have been busted, however four points I'll be looking for:
- Final capitulation into previous uptrend channel
- Failed retest of upper bound
- Sideways/down into test of lower bound
- Find support, begin moving up again
$BTC 's most crucial support is the lower bound of the previous uptrend's channel, which...
Here's a slight variation from my previous fractal idea of the April-Nov 2013 Fractal laid over current chart. Previous idea linked below had fractal playing out starting from the high, with the # of days from the high to finding a new higher low 88 days later.
For this idea I used slightly different data (fractal overlay from Mt.Gox chart rather than Bitstamp)...
2014 fractal to compliment my other fractal idea. Even if we stay locked in a bear market, we're still likely due for another bounce to the 10k range at a minimum, with 12k also being a strong possibility.
I keep coming back to this idea. The fractal is less than perfectly overlaid, given that the market was far less mature back then and dumped far more quickly and violently, but the idea is the same.
After the first run up and major dump in 2013, Bitcoin found its next bottom 88 days after the initial massive dump, making a higher low. That point is approximately...