{"id":480552,"date":"2022-01-06T20:14:26","date_gmt":"2022-01-06T20:14:26","guid":{"rendered":"https:\/\/ktsl888.com\/?p=480552"},"modified":"2024-06-11T14:10:27","modified_gmt":"2024-06-11T14:10:27","slug":"bitcoin-fractal-record-reversal-near","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-fractal-record-reversal-near\/","title":{"rendered":"Blast From The Past Bitcoin Fractal Could Suggest A Record Reversal Is Near"},"content":{"rendered":"

Mark Twain said that history doesn’t repeat, but it often rhymes. Such a scenario could be about to play out in Bitcoin<\/a>, according to a potential fractal that mimics the setup before a previous record-breaking rally.<\/p>\n

While the conditions aren’t quite the same for an exact repeat, there could be enough for the price action now and then to rhyme just enough. Let’s take a closer look.<\/p>\n

Record-Breaking Bitcoin Price Fractal Found, But Is It Valid?<\/h2>\n

Markets are cyclical and patterns repeat in those markets so often, they can be used to predict the future<\/a>. Most of the statistically proven technical patterns include some type of geometric shape such as triangles and rectangles.<\/p>\n

But not all setups are so clear. Repeating patterns called fractals<\/a> can appear, mimicking the price action of past moments. When fractals appear, they aren’t a perfect repeat of the situation before, but can yield similar results.<\/p>\n

Related Reading | Could Kazakhstan Turmoil Cause Another Bitcoin Hash Crash?<\/a><\/strong><\/em><\/p>\n

The fractal in question is a setup from October 25, 2019 \u2013 in the past dubbed the “Xi pump” or “China pump<\/a>.” Bitcoin price had swept support after more than a month of grinding against it, only to sharply reverse.<\/p>\n

Not only did price action reverse, the resulting short squeeze and FOMO led to a record-breaking 44% climb in a matter of 48 to 72 hours. It was the third-largest single-day rise in the cryptocurrency’s history.<\/p>\n

\"BTCUSD_2022-01-06_14-04-02\"<\/p>\n

Price action mimics a fractal from October 2019 | Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Will The Death Cross Breathe New Life Into Crypto Bulls?<\/h2>\n
The fractal above is eerily similar to the price action during the October 2019 downtrend. The peaks and troughs match well enough, as pictured above.<\/p>\n
What is more potentially telling, is the fact the same setup is brewing when Bollinger Bands<\/a> are turned on. 12-hour BTCUSD timeframes show a similar pattern, then a very similar close outside of the lower Bollinger Band. After a pause and a pair of doji, Bitcoin price reversed and reversed hard.<\/p>\n
\"2022-01-06<\/p>\n
The Bollinger Bands could snap BTC back to $60K | Source: BTCUSD on TradingView.com<\/a><\/pre>\n
If the pattern were to repeat or even rhyme, there is potential for a historic, record-breaking reversal<\/a>. The last time the setup happened in October 2019, there was a 44% climb in the days that followed.<\/p>\n
Related Reading | 2022: The Year The Secular Bitcoin Bull Run Could End<\/a><\/strong><\/em><\/p>\n
Another 44% climb would take Bitcoin back above $61,000 per coin and it could happen in just days. Fractals, however, aren’t valid, statistically proven patterns with any probability behind them. They simply can appear to look like past price action, but completely fail to yield the same results.<\/p>\n
\"BTCUSD_2022-01-06_15-03-58\"<\/p>\n
Could Bitcoin pump into the death cross again? | Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Finally, there is a looming “death cross” on the daily, which also appeared around the same time as the so-called China pump. A death cross<\/a> happens when the a short-term moving average \u2013 the 50-day MA \u2013 crosses below a long-term moving average \u2013 the 200-day MA.<\/p>\n
Despite all the similarities, the fractal above should be taken with a grain of salt \u2013 salt that may end up in the wounds of bears should this pattern play out.<\/p>\n
Follow <\/i><\/b>@TonySpilotroBTC on Twitter<\/i><\/b><\/a> or join\u00a0<\/i><\/b>the TonyTradesBTC Telegram<\/i><\/b><\/a> for exclusive daily market insights and technical analysis education<\/i><\/b>. Please note: Content is\u00a0educational and should not be\u00a0considered investment advice.<\/i><\/b><\/p>\n
Featured image from iStockPhoto, Charts from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"
Mark Twain said that history doesn’t repeat, but it often rhymes. Such a scenario could be about to play out in Bitcoin, according to a potential fractal that mimics the setup before a previous record-breaking rally. While the conditions aren’t quite the same for an exact repeat, there could be enough for the price action now and then to rhyme just enough. Let’s take a closer look. Record-Breaking Bitcoin Price Fractal Found, But Is It Valid? Markets are cyclical and patterns repeat in those markets so often, they can be used to predict the future. Most of the statistically proven technical patterns include some type of geometric shape such as triangles and rectangles. But not all setups are so clear. Repeating patterns called fractals can appear, mimicking the price action of past moments. When fractals appear, they aren’t a perfect repeat of the situation before, but can yield similar results. Related Reading | Could Kazakhstan Turmoil Cause Another Bitcoin Hash Crash? The fractal in question is a setup from October 25, 2019 \u2013 in the past dubbed the “Xi pump” or “China pump.” Bitcoin price had swept support after more than a month of grinding against it, only to sharply reverse. Not only did price action reverse, the resulting short squeeze and FOMO led to a record-breaking 44% climb in a matter of 48 to 72 hours. It was the third-largest single-day rise in the cryptocurrency’s history. Price action mimics a fractal from October 2019 | Source: BTCUSD on TradingView.com Will The Death Cross Breathe New Life Into Crypto Bulls? The fractal above is eerily similar to the price action during the October 2019 downtrend. The peaks and troughs match well enough, as pictured above. What is more potentially telling, is the fact the same setup is brewing when Bollinger Bands are turned on. 12-hour BTCUSD timeframes show a similar pattern, then a very similar close outside of the lower Bollinger Band. After a pause and a pair of doji, Bitcoin price reversed and reversed hard. The Bollinger Bands could snap BTC back to $60K | Source: BTCUSD on TradingView.com If the pattern were to repeat or even rhyme, there is potential for a historic, record-breaking reversal. The last time the setup happened in October 2019, there was a 44% climb in the days that followed. Related Reading | 2022: The Year The Secular Bitcoin Bull Run Could End Another 44% climb would take Bitcoin back above $61,000 per coin and it could happen in just days. Fractals, however, aren’t valid, statistically proven patterns with any probability behind them. They simply can appear to look like past price action, but completely fail to yield the same results. Could Bitcoin pump into the death cross again? | Source: BTCUSD on TradingView.com Finally, there is a looming “death cross” on the daily, which also appeared around the same time as the so-called China pump. A death cross happens when the a short-term moving average \u2013 the 50-day MA \u2013 crosses below a long-term moving average \u2013 the 200-day MA. Despite all the similarities, the fractal above should be taken with a grain of salt \u2013 salt that may end up in the wounds of bears should this pattern play out. Follow @TonySpilotroBTC on Twitter or join\u00a0the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is\u00a0educational and should not be\u00a0considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com<\/p>\n","protected":false},"author":517,"featured_media":480555,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1057,1119,1144,78790,6664,4524],"class_list":["post-480552","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bollinger-bands","tag-btc","tag-btcusd","tag-btcusdt","tag-crypto","tag-xbt"],"acf":[],"yoast_head":"\nBlast From The Past Bitcoin Fractal Suggests A Record Reversal Is Near<\/title>\n<meta name=\"description\" content=\"A looming death cross in Bitcoin along with some other potential signals could indicate a shocking reversal is near.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market. A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony\u2019s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements. Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.","sameAs":["https:\/\/coinchartist.io\/","https:\/\/www.instagram.com\/coinchartist_io\/","https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC","https:\/\/www.youtube.com\/@coinchartist_io"],"url":"https:\/\/ktsl888.com\/author\/tonymspilotro\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Blast From The Past Bitcoin Fractal Could Suggest A Record Reversal Is Near","url":"http:\/\/ktsl888.com\/news\/bitcoin-fractal-record-reversal-near\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/bitcoin-fractal-record-reversal-near\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/01\/bitcoin-fractal-iStock-511535620.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/01\/bitcoin-fractal-iStock-511535620.jpeg?fit=1254%2C836"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Tony \"El Toro\" Severino"}],"creator":["Tony \"El Toro\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bollinger bands","btc","btcusd","btcusdt","crypto","xbt"],"dateCreated":"2022-01-06T20:14:26Z","datePublished":"2022-01-06T20:14:26Z","dateModified":"2024-06-11T14:10:27Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Blast From The Past Bitcoin Fractal Could Suggest A Record Reversal Is Near\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-fractal-record-reversal-near\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-fractal-record-reversal-near\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2022\\\/01\\\/bitcoin-fractal-iStock-511535620.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2022\\\/01\\\/bitcoin-fractal-iStock-511535620.jpeg?fit=1254%2C836\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"El Toro\\\" Severino\"}],\"creator\":[\"Tony \\\"El Toro\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bollinger bands\",\"btc\",\"btcusd\",\"btcusdt\",\"crypto\",\"xbt\"],\"dateCreated\":\"2022-01-06T20:14:26Z\",\"datePublished\":\"2022-01-06T20:14:26Z\",\"dateModified\":\"2024-06-11T14:10:27Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/01\/bitcoin-fractal-iStock-511535620.jpeg?fit=1254%2C836","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/480552"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/517"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=480552"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/480552\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/480555"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=480552"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=480552"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=480552"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}