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Tuesday

22 June 2021

Bear Market Bottom Fractal Says Bitcoin Could Soon Bump And Run

Bear Market Bottom Fractal Says Bitcoin Could Soon Bump And Run


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In 2018 and 2019, BTC’s price formed this chart structure after major corrections and managed to reclaim the lost territory.

As both charts show, this chart structure is comprised of 4 phases: the lead-in phase, which could have been formed in previous months.

This phase could extend for months with BTC’s price reaching higher lows in a narrow range and slowly retaking its previous highs.

During this phase, the price forms a bowl-like structure as it climbs back to levels seen in the first phase.

This figure coincides with BTC’s price 2017 peak, and it saw an 18% reduction during last week’s sell-off.

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