Triangle of Bitcoin: Is this a signal to a rally?


The fractal dynamic was used in this technical analysis. On the 1D timeframe, the most recent one was the following, which we can say played out fairly effectively:

BITCOIN Is it realistic to expect a repeat of this fractal?

But first, let’s look at the 1W timeframe. Based on the Triangles on the main chart, Bitcoin is recreating an A-B-C-D pattern similar to the Cycles of 2014-2016 and 2018-2019. Is it possible that we have a micro Cycle within the Cycle this time? It’s feasible, based on this fractal comparison. It’s crucial to note that we’re not including the March 2020 COVID market meltdown because it’s a technological aberration triggered by a once-in-a-century incident (pandemic).

So the (d) leg could be the most important factor here. It was contained above or on the 1W MA50 on both previous Mega Cycles (blue trend-line). The 1W MA50 is currently holding on to the current ‘mini’ Triangle. Can a break of the Triangle to the upside, if it continues to do so, signal the commencement of a fresh parabolic rise, potentially the last of this Bull Cycle? Yes, perhaps.

Disclaimer:  This is a reference analysis based on an individual's opinion that we have collected. It is not intended as investment advice; we will not be responsible for any risk.


Please enter your comment!
Please enter your name here