{"id":33858,"date":"2023-12-06T23:54:14","date_gmt":"2023-12-07T03:54:14","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=33858"},"modified":"2023-12-06T23:54:14","modified_gmt":"2023-12-07T03:54:14","slug":"bitcoin-bullish-fractal-returns-analyst-predicts-another-leg-up-with-price-target","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/12\/06\/bitcoin-bullish-fractal-returns-analyst-predicts-another-leg-up-with-price-target\/","title":{"rendered":"Bitcoin Bullish Fractal Returns: Analyst Predicts Another Leg-Up With Price Target"},"content":{"rendered":"

The recent Bitcoin rally<\/a> has brought a number of things to the forefront and one of those is a bullish Bitcoin fractal<\/a> that has not returned in two years. Crypto analyst FieryTrading was the one to point this out in a recent analysis of the leading cryptocurrency as something that could serve as evidence that the rally will continue.<\/p>\n

Bitcoin Bullish Fractal Makes A Comeback<\/h2>\n

The crypto analyst pointed<\/a> to a previously identified channel in the Bitcoin price that could suggest a bullish continuation. This channel often results after a big pump and given that BTC<\/a> has added around $15,000 to its price in the space of a month, it doesn\u2019t get bigger than this. As a result of this, the channel has returned, suggesting that the BTC price could stick to this historical fractal.<\/p>\n

FieryTrading identified that the fractal had appeared back in 2019 when the price jumped from around $4,100 to $5,800. After this, the fractal had completed the move, causing the BTC price<\/a> to rise above the $6,800 level.<\/p>\n\n

Then again in 2020, the fractal would reappear after the BTC price<\/a> rose from around $11,000 and ended around $14,200. And just like in 2019, when the fractal was confirmed, it saw a continuation of the bullish rally which pushed the Bitcoin price above $16,000.<\/p>\n

Most recently, after Bitcoin\u2019s price<\/a> rose from $28,000 to $41,000, the fractal has reappeared once more. \u201cThe pattern that I\u2019m talking about is a bullish channel after a big pump that results in another big pump,\u201d FieryTrading explains.<\/p>\n\n

Where Does This Put BTC\u2019s Price?<\/h2>\n

Following the previous performances of the Bitcoin price<\/a> whenever this fractal has appeared, it suggests that there is still a lot of runway for the current rally. The crypto analyst used this historical performance to map out a likely path for the crypto\u2019s price, putting the top of the fractal at $48,000.<\/p>\n

\u201cSeeing how the market historically behaved, I made the assumption that BTC<\/a> would follow this fractal and break out of the channel in the near future. One week later, and BTC<\/a> has successfully broken out of the channel, as predicted by this fractal analysis,\u201d FieryTrading stated. \u201cAs described in my analysis below, I\u2019m currently looking at 48k as the next target. Seeing how these fractals historically behaved, 48k should be fairly easily reached?\u201d<\/p>\n

If this fractal does play out the way the analyst expects, then the BTC<\/a> price can be expected to add another $6,000 to its value from here before the recovery trend ends. This means that the leading crypto<\/a> might see another 10% jump from its current price.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

The recent Bitcoin rally<\/a> has brought a number of things to the forefront and one of those is a bullish Bitcoin fractal<\/a> that has not returned in two years. Crypto analyst FieryTrading was the one to point this out in a recent analysis of the leading cryptocurrency as something that could serve as evidence that the rally will continue.<\/p>\n

Bitcoin Bullish Fractal Makes A Comeback<\/h2>\n

The crypto analyst pointed<\/a> to a previously identified channel in the Bitcoin price that could suggest a bullish continuation. This channel often results after a big pump and given that BTC<\/a> has added around $15,000 to its price in the space of a month, it doesn\u2019t get bigger than this. As a result of this, the channel has returned, suggesting that the BTC price could stick to this historical fractal.<\/p>\n

FieryTrading identified that the fractal had appeared back in 2019 when the price jumped from around $4,100 to $5,800. After this, the fractal had completed the move, causing the BTC price<\/a> to rise above the $6,800 level.<\/p>\n

Then again in 2020, the fractal would reappear after the BTC price<\/a> rose from around $11,000 and ended around $14,200. And just like in 2019, when the fractal was confirmed, it saw a continuation of the bullish rally which pushed the Bitcoin price above $16,000.<\/p>\n

Most recently, after Bitcoin\u2019s price<\/a> rose from $28,000 to $41,000, the fractal has reappeared once more. \u201cThe pattern that I\u2019m talking about is a bullish channel after a big pump that results in another big pump,\u201d FieryTrading explains.<\/p>\n

Where Does This Put BTC\u2019s Price?<\/h2>\n

Following the previous performances of the Bitcoin price<\/a> whenever this fractal has appeared, it suggests that there is still a lot of runway for the current rally. The crypto analyst used this historical performance to map out a likely path for the crypto\u2019s price, putting the top of the fractal at $48,000.<\/p>\n

\u201cSeeing how the market historically behaved, I made the assumption that BTC<\/a> would follow this fractal and break out of the channel in the near future. One week later, and BTC<\/a> has successfully broken out of the channel, as predicted by this fractal analysis,\u201d FieryTrading stated. \u201cAs described in my analysis below, I\u2019m currently looking at 48k as the next target. Seeing how these fractals historically behaved, 48k should be fairly easily reached?\u201d<\/p>\n

If this fractal does play out the way the analyst expects, then the BTC<\/a> price can be expected to add another $6,000 to its value from here before the recovery trend ends. This means that the leading crypto<\/a> might see another 10% jump from its current price.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-33858","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/33858","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=33858"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/33858\/revisions"}],"predecessor-version":[{"id":33871,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/33858\/revisions\/33871"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=33858"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=33858"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=33858"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}