Bear phase fractal warns of pain, Bitcoin Bull Market remains intact – Explica .co






The carpet was simply covered in cryptocurrencies, wiping out last week’s profits and something else. Bitcoin has now returned to March prices and is in danger of slipping deeper into a bearish period, as evidenced by a fractal noted in the recent price move.

Notably, the same fractal suggests that the bull market is not over yet, despite the tentative shift into a downtrend. This is what Bitcoin’s trajectory could look like, based on Elliott Wave Theory, LMACD, and recent cryptocurrency reversal.

Bitcoin price drops below $ 50,000 for 2019 breakdown

A fractal is a repeating pattern found in nature, or in this case finance. Similar patterns can repeat over and over again in price charts for currencies, stocks, commodities, and more.

Related reading | Broken Parable: Mapping the Bitcoin Bull Market and More

Each pattern can even result in a similar price action once completed. For example, Black Thursday was the second fall of the 2014-2015 bear market low.

Does this fractal from 2019 repeat itself again? | Source: BTCUSD on

The recent price movement in Bitcoin coincides almost perfectly with the first major correction since the bull market began in June 2019. In both cases, the logarithmic MACD crossed bearishly, and the candlestick structure at high time periods is strikingly similar.

What Elliott wave theory and momentum indicators say about the bull market

If the fractal is accurate and produces similar results, Bitcoin could spend the next six months in a downtrend. The bearish phase could reach a similar scope and severity as the 2019 high, given that the recent price parabola has been broken.

It is more than likely that a bearish period will follow, but that doesn’t necessarily mean the bull market is over.

Bitcoin Bear Market Fractal Bull 2

Bitcoin Bear Market Fractal Bull 2

Elliott waves could provide clues as to the conclusion of this market cycle Source: BTCUSD on

For those unfamiliar with Elliott wave theory, the study focuses on market stimuli that are based on extreme changes in sentiment.

There are typically five pulse waves within each main drive shaft. If the primary wave is active and Bitcoin has been in the “always active” range since its inception, so are the odd waves, with even waves moving against the primary trend.

Related reading | The dollar’s double bottom could be the end of the Bitcoin rally

At the beginning of 2019, it would have worked as wave one out of five, with the downtrend of wave two ending on Black Thursday. This rebound triggered the third wave in which it is “undeniable” according to the characteristics of the Elliott Wave.

The fourth wave is a little more complicated. Sure, it might feel like the top is in, but if wave three has just ended, the Bitcoin bulls’ best hope is that wave four is next.

Wave four After the practice, you will never go back to the path of the first wave. This means that the price of Bitcoin will never fall below $ 13,800 again.

This could indicate a bug and the main cryptocurrency could have serious problems.

Featured image from iStockPhotos, graphics from

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