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The Bitcoin Prize has now again shown a Bullishness that defeated the resistance of $ 100,000 and continues to extend. This appears to be for the course for the leading cryptocurrency after market capitalization, because the mood has returned to the positive area prior to now few days. With this trend, a crypto analyst has explained that the Bitcoin price actually reflects a vital fractal of 4 years ago, which normally led to bull markets.
Bitcoin Price Fractal from 2020 returns
In a TradingView contribution, Crypto Analyst Tradingshot explained that the present Bitcoin trend from 2020 is reflected and that each fractals move similarly to one another. The price campaign appears to be the identical, especially on the subject of the buildup and distribution, which takes place in an identical way.
For the buildup phase, Bitcoin looked the primary first phase between May and August in 2020, and now an identical accumulation was played between March and September in 2024. Just like in 2020, accumulation ended a bullish rally in 2024, through which the Bitcoin price rose from lower than $ 70,000 to over $ 100,000 for months. This is analogous to the rally of lower than $ 9,000 to over 12,000 US dollars that took place in 2020.
What followed in each times is a distribution period through which the Bitcoin price was moved down for just a few months and moved to the side. This took place until the start of 2025, as was because it might be seen between August and October 2020. Now the second accumulation trend has been accomplished, just because it was in 2020, and if this continues to have an effect, it could end in an outbreak for the digital asset.
Page on the side view of 2020 vs. 2025 | Source: Tradingview
As a result, the Bitcoin Prize has now interrupted the Pivot trend line, which separates the distribution from the second accumulation trend. At the time of the post of the crypto analyst, the Bitcoin price was within the repeat phase, which tested on 97,000 US dollars. Since then, the Bitcoin price has broken this repetition zone and marked an upward trend because of this.
The sliding 50-day average of $ 97,100 continues to be serving as support for cryptocurrency. This is the extent that bulls should keep to proceed the value meeting. The analyst explains that the Bitcoin price, so long as this level is maintained, is analogous to a rally that was seen between October 2020 and April 2021. Tradingshot also identified that the RSI sequences are also equivalent, which indicates that the cryptocurrency could fully follow this trend.
If this fractal is going down as before, the goal for the Bitcoin price for this cycle is about at 150,000 USD. Other macro developments akin to the FED, which decide to keep rates of interest the identical and never increase them, also encouraged investors to take risk akin to Bitcoin.
BTC price shows strength over 100,000 USD | Source: BTCUSD on tradingview.com
Selected picture of dall.e, diagram of tradingview.com
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