@ArShevelev thoughts on Bitcoin fractal. Reasons for $200,000

Hey, Bitcoin trading in $55,600, which is +35% from last swing low, now breaking previous swing high with impressive move.

Take a closeup look on Post-Halving fractal (in 2020)

It look pretty similar to our current situation (Oct. 2021), and possible high demand on Bitcoin after breakout from $60,000, here is closeup chart:

Price sits above dynamic resistance and seems like $60,000 is a matter of 2 weeks.

If we manage to break ATH at 65,200 — price will fly to $80,000 - 100,000 in short period.

Daily Moving Average setup — looks semi-bearish / neutral, for now — DMA200 above DMA100 which is bearish. If Bitcoin price falls back inside triangle Bulls need to defend price at $46,000-44,000 to make a new ATH, otherwise price will fall lower.

Best regards
Artem Shevelev

Stay tuned for further updates.

Kommentera:

If you interested in intraday timeframe, here is 1h live-chart, click to open