Bitcoin price is taking its time to consolidate around $ 50,000 but could prepare for the next big leg of up to $ 77,000 per coin.
The “cheat sheet” is a fractal from the past that is playing back almost perfectly on the Bitcoin markets. If the fractal persists, here’s how far it could take the price per BTC before it climaxes.
Bitcoin Trader Cheat Sheet Notes on the next stage up to around 77,000 USD per BTC
Bitcoin is making another attempt to hold above $ 50,000 and has had problems so far. If the cryptocurrency manages to regain the key phycological level, it could give the cops the confidence to push into another higher realm.
Related reading | Why March is the bloodiest month in Bitcoin history
In that case, the next stop could be $ 77,000 per coin, as a pseudonymous trader has described as a “cheat sheet” for the crypto market in recent months.
A chart shared by the trader shows how closely the recent bull market traced alongside price action in the fractal from previous cycles.
Bitcoin tracked this fractal, albeit with less volatility Source: BTCUSD on TradingView.com
When the current range is finally left it will be followed by a big spike to $ 77,000, followed by a much steeper correction, the fractal says. But what comes after, if you can avoid being bumped by the expected volatility, it could be the strongest bullish impulse ever.
Could This Fractal Contain The Code For Predicting The Next Crypto Market Peak?
Not every trader puts a lot of emphasis on fractals, but the cheat sheet above is too specific to ignore. While this time could certainly be different, the price per bitcoin will rise to $ 100,000 in the same way, then to more than $ 200,000 per coin almost immediately.
The same cheat sheet from past cycles says Bitcoin will quickly explode to $ 200,000 Source: BTCUSD on TradingView.com
It takes a few weeks, if days, for the huge $ 100,000 to $ 200.00 boost that mimics the run from $ 10,000 to $ 20,000 in 2017 – a month before the top hit and cryptocurrency its first real correction for more than a year began the year of the upward trend.
Related reading | Coinbase Bitcoin Outflows Are Strongest Bullish Signal “Ever”
What comes next, according to the fractal cheat sheet, is the high point of the current bull market and another expanded bear market for the market to traverse again.
Could this cryptocurrency bull market cheat sheet really be that specific? And if so, could this indicate an explosive move towards the summit from here?
Featured image from deposit photos, charts from TradingView.com
