🔥 Bitcoin Weekly Higher Low: 2019 Bottom Fractal?
In today's analysis I want to talk about Bitcoin's long-term weekly timeframes and comparing it to the 2019 (and partially 2018) bear market bottom fractal. BTC has formed a weekly higher-low for the first time since late February, which is notable!
Recently, my short-term BTC analyses have been relatively bearish. I'm still more bearish than bullish until 1) BTC makes a convincing move above 26k, 2) inflation has peaked, and lastly 3) the US mid-terms are over.
However, the above doesn't prohibit us from looking at longer-term price movements.
As seen on the chart, BTC is following the 2019 fractal relatively closely. So, if 19.6k was indeed the weekly higher-low, this could very well signal that the bottom is in and that more bullish price action is near, see the 2019 for an example.
As mentioned before, the sky has not cleared yet for BTC. However, we should still consider the possibility that the bottom is in.
Recently, my short-term BTC analyses have been relatively bearish. I'm still more bearish than bullish until 1) BTC makes a convincing move above 26k, 2) inflation has peaked, and lastly 3) the US mid-terms are over.
However, the above doesn't prohibit us from looking at longer-term price movements.
As seen on the chart, BTC is following the 2019 fractal relatively closely. So, if 19.6k was indeed the weekly higher-low, this could very well signal that the bottom is in and that more bullish price action is near, see the 2019 for an example.
As mentioned before, the sky has not cleared yet for BTC. However, we should still consider the possibility that the bottom is in.
🎯Official Channel: t.me/FieryTradingChannel
📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
✅Monster Signals: t.me/monster_cryptosignals
🔥Premium Signals: fierytrading.com
📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
✅Monster Signals: t.me/monster_cryptosignals
🔥Premium Signals: fierytrading.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.