Fractals are a helpful way to identify how markets have previously moved. When identifying a similar pattern, it can be useful to speculate future potential price action.
In my previous updates, I've mentioned the two scenarios that I foresee for BTC after reaching a new ATH. The one was a correction, and the other was range trading until after the halving. Find the previous Bitcoin post here:
When we compare BTC to how Nvidia has been moving, we see a very similar corrective pattern play out, followed by a steep increase. Then, after a period of sideways/range trading on NVDA, the price continues to even higher highs as it increases parabolically. Could we possible see something similar on Bitcoin? I think it's worth keeping an eye on this fractal and expect some boring price action for a while on BTC.
If you found this content helpful, please remember to hit like and subscribe and never miss a moment in the markets.
_______________________
📢Follow us here on TradingView for daily updates📢 👍Hit like & Follow 👍 CryptoCheck
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.