{"id":647278,"date":"2024-10-10T23:00:19","date_gmt":"2024-10-10T23:00:19","guid":{"rendered":"https:\/\/ktsl888.com\/?p=647278"},"modified":"2024-10-10T14:14:40","modified_gmt":"2024-10-10T14:14:40","slug":"bitcoin-price-flashes-fractal","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-price-flashes-fractal\/","title":{"rendered":"Bitcoin Price Flashes Fractal Similar To October 2023, Here’s What Happened Last Time"},"content":{"rendered":"

Crypto analyst TradingShot recently revealed that the Bitcoin price is forming a similar <\/span>fractal pattern<\/span><\/a> to the one that happened in October 2023. This is bullish for the flagship crypto, considering what happened last year when the fractal pattern formed.\u00a0<\/span><\/p>\n

Bitcoin Prices Flashes Fractal Similar To October 2023<\/h2>\n

TradingShot mentioned in a <\/span>TradingView post<\/span><\/a> that the Bitcoin fractal similar to the one that occurred in October 2023 is happening again. He explained that the similarities are more evident in the 1D timeframe, where the <\/span>Bitcoin price<\/span><\/a> currently ranges within the 1D 50-day moving average (MA) and the 1D 200 MA. According to him, BTC also traded similarly precisely a year ago in the first two weeks of October 2023.\u00a0<\/span><\/p>\n

Related Reading: Dogecoin Vs. Bitcoin: Gauging The Performances Of Two Crypto Giants This Cycle<\/a><\/div>\n

In October 2023, BTC is said to have made a marginal break above the 1D 200 MA before quickly pulling back below it. TradingShot further revealed that the Bitcoin price started its \u201clong-term aggressive rally\u201d of the Channel Up after it tested and held the 1D 50 MA, peaking on March 14 this year, when it hit its <\/span>current all-time high (ATH)<\/span><\/a> of $73,000.<\/span><\/p>\n

Interestingly, Bitcoin tested and held this 1D 50 MA at the start of this month, indicating another long-term aggressive rally might be on the horizon. TradingShot claimed that as long as the 1-week 50 MA continues to hold as the long-term support, there is a high probability that the <\/span>Bitcoin price could hit $100,000<\/span><\/a> even before the end of this year.\u00a0<\/span><\/p>\n

 <\/p>\n

From a fundamentals angle, market experts like <\/span>Standard Chartered have also predicted<\/span><\/a> that Bitcoin could reach $100,000 even before the US presidential elections on November 5. Meanwhile, Bernstein analysts expect BTC to at least come close to this price level based on their prediction that the flagship crypto could hit $90,000 if Donald Trump wins the elections.\u00a0<\/span><\/p>\n

What Next For The Leading Crypto?<\/h2>\n

The <\/span>Bitcoin price<\/span><\/a> has remained stagnant amid market uncertainty thanks to the macro data, the upcoming US elections and <\/span>rising tensions<\/span><\/a> in the Middle East. This has raised questions about what to expect next from the leading crypto with such a bearish outlook. Crypto analyst Ali Martinez has provided some insights, predicting that BTC could soon lose the $60,000 support level.<\/span><\/p>\n

Related Reading: Standard Chartered Analysts Says Ethereum Price Will Reach $10,000 If This Happens<\/a><\/div>\n

While noting that Bitcoin remains stuck in a descending parallel channel, Martinez remarked that a recent rejection of the upper bounder could lead to a decline to the <\/span>middle boundary at $58,000<\/span><\/a>. He added that the BTC price could drop to the lower boundary at $52,000. According to him, a bullish breakout for Bitcoin won\u2019t happen until its <\/span>price clears $66,000<\/span><\/a>.\u00a0<\/span><\/p>\n

At the time of writing, the Bitcoin price is trading at around $61,000, down almost 2% in the last 24 hours, according to <\/span>data<\/span><\/a> from CoinMarketCap.\u00a0<\/span><\/p>\n

\"Bitcoin
BTC price at $60,600 | Source: BTCUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Crypto analyst TradingShot recently revealed that the Bitcoin price is forming a similar fractal pattern to the one that happened in October 2023. This is bullish for the flagship crypto, considering what happened last year when the fractal pattern formed.\u00a0 Bitcoin Prices Flashes Fractal Similar To October 2023 TradingShot mentioned in a TradingView post that the Bitcoin fractal similar to the one that occurred in October 2023 is happening again. He explained that the similarities are more evident in the 1D timeframe, where the Bitcoin price currently ranges within the 1D 50-day moving average (MA) and the 1D 200 MA. According to him, BTC also traded similarly precisely a year ago in the first two weeks of October 2023.\u00a0 Related Reading: Dogecoin Vs. Bitcoin: Gauging The Performances Of Two Crypto Giants This Cycle In October 2023, BTC is said to have made a marginal break above the 1D 200 MA before quickly pulling back below it. TradingShot further revealed that the Bitcoin price started its \u201clong-term aggressive rally\u201d of the Channel Up after it tested and held the 1D 50 MA, peaking on March 14 this year, when it hit its current all-time high (ATH) of $73,000. Interestingly, Bitcoin tested and held this 1D 50 MA at the start of this month, indicating another long-term aggressive rally might be on the horizon. TradingShot claimed that as long as the 1-week 50 MA continues to hold as the long-term support, there is a high probability that the Bitcoin price could hit $100,000 even before the end of this year.\u00a0   From a fundamentals angle, market experts like Standard Chartered have also predicted that Bitcoin could reach $100,000 even before the US presidential elections on November 5. Meanwhile, Bernstein analysts expect BTC to at least come close to this price level based on their prediction that the flagship crypto could hit $90,000 if Donald Trump wins the elections.\u00a0 What Next For The Leading Crypto? The Bitcoin price has remained stagnant amid market uncertainty thanks to the macro data, the upcoming US elections and rising tensions in the Middle East. This has raised questions about what to expect next from the leading crypto with such a bearish outlook. Crypto analyst Ali Martinez has provided some insights, predicting that BTC could soon lose the $60,000 support level. Related Reading: Standard Chartered Analysts Says Ethereum Price Will Reach $10,000 If This Happens While noting that Bitcoin remains stuck in a descending parallel channel, Martinez remarked that a recent rejection of the upper bounder could lead to a decline to the middle boundary at $58,000. He added that the BTC price could drop to the lower boundary at $52,000. According to him, a bullish breakout for Bitcoin won\u2019t happen until its price clears $66,000.\u00a0 At the time of writing, the Bitcoin price is trading at around $61,000, down almost 2% in the last 24 hours, according to data from CoinMarketCap.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":646330,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[428,656,679,1119,89185,1122,1144,78790],"class_list":["post-647278","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt"],"acf":[],"yoast_head":"\nBitcoin Price Flashes Fractal Similar To October 2023, Here's What Happened 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. 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