• Home
  • About Us
  • Privacy Policy
  • Terms and Conditions
  • Team
  • Contact
Friday, June 6, 2025
FinCurrency
No Result
View All Result
  • Home
  • News
  • Finance
  • Economy
  • Crypto
  • Home
  • News
  • Finance
  • Economy
  • Crypto
No Result
View All Result
FinCurrency
No Result
View All Result

Bitcoin Price Flashes Fractal Similar To October 2023, Here’s What Happened Last Time

Sergio Gruber by Sergio Gruber
October 10, 2024
in Crypto, News
Reading Time: 2 mins read
A A
0
Here’s What Will Happen If Bitcoin Respects This MVRV Ratio Support Level
0
SHARES
0
VIEWS
FacebookTweetPinShareShare

In the ever-evolving world of cryptocurrency, understanding market patterns can provide valuable insights into future price movements. In this article, we delve into recent analyses by notable crypto analyst TradingShot, who has identified a recurring fractal pattern in Bitcoin’s price behavior. This pattern mirrors a similar occurrence from October 2023, hinting at potential bullish trends for Bitcoin.

Bitcoin’s Fractal Pattern: Echoes of October 2023

blockdag 70m

According to a recent post by TradingShot on TradingView, Bitcoin is currently exhibiting a fractal pattern similar to one observed in October 2023. This pattern is particularly noticeable within the 1D timeframe, where Bitcoin’s price fluctuates between the 1D 50-day moving average (MA) and the 1D 200 MA. This behavior was previously seen during the first two weeks of October 2023, setting the stage for significant price movements.

Historical Context and Current Trends

In October 2023, Bitcoin experienced a brief ascent above the 1D 200 MA, followed by a swift pullback. TradingShot highlights that Bitcoin initiated a “long-term aggressive rally” within the Channel Up pattern after testing and maintaining the 1D 50 MA. This rally culminated on March 14, when Bitcoin reached its all-time high of $73,000. The recent testing and holding of the 1D 50 MA at the beginning of this month suggest another potential long-term rally may be on the horizon.

Market Predictions: Will Bitcoin Reach New Heights?

From a fundamental perspective, major financial institutions have weighed in with their predictions. Standard Chartered has forecasted that Bitcoin might reach the $100,000 mark even before the United States presidential elections on November 5. Additionally, Bernstein analysts speculate that Bitcoin could approach this milestone if Donald Trump emerges victorious in the elections, estimating a potential peak of $90,000.

What Lies Ahead for Bitcoin?

Despite the bullish sentiment, Bitcoin’s price remains in flux amidst global economic uncertainties, including the upcoming U.S. elections and geopolitical tensions in the Middle East. Crypto analyst Ali Martinez has offered a cautious outlook, suggesting that Bitcoin may soon lose its $60,000 support level.

Analyzing the Current Market Dynamics

Martinez notes that Bitcoin continues to trade within a descending parallel channel. A recent rejection at the channel’s upper boundary could lead to a decline towards the middle boundary at $58,000, with further potential dips to the lower boundary at $52,000. He posits that a bullish breakout is unlikely until Bitcoin surpasses the $66,000 threshold.

Current Market Status

As of the time of writing, Bitcoin is trading around $61,000, reflecting a nearly 2% decrease over the past 24 hours, based on data from CoinMarketCap. This volatility underscores the dynamic nature of the cryptocurrency market and the importance of staying informed about market trends and predictions.

In conclusion, while Bitcoin’s fractal patterns suggest potential bullish trends, market participants should remain vigilant and informed about the various factors influencing Bitcoin’s price movements. As the cryptocurrency market continues to evolve, staying updated on the latest analyses and predictions will be crucial for navigating the future of Bitcoin.

Tags: BitcoinBitcoin newsbitcoin priceBTCBTC newsbtc pricebtcusdBTCUSDT
Previous Post

Ethereum Could See a 53% Price Correction If This Happens—Analyst

Next Post

Solana Meme Coins Defy Crypto Market, What’s Happening?

Sergio Gruber

Sergio Gruber

Financial writer Hello, my name is Sergio Gruber and I am a finance editor with a specialization in blockchain and cryptocurrency. I have a deep understanding of how the financial world is being transformed by these exciting technologies.I received my degree in Finance Editing from Western Washington University, where I learned how to combine my passion for writing and financial analysis. Since then, I have worked with a number of high-profile publications, helping to educate and inform readers about the latest developments in the world of blockchain and cryptocurrency.

Next Post
Solana Meme Coins Defy Crypto Market, What’s Happening?

Solana Meme Coins Defy Crypto Market, What’s Happening?

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Popular News

  • How BlockDAG’s Community-First Strategy Raised $68.3M in Presale; Cardano To Roll out New Update & Solana Price Prediction Bullish

    How BlockDAG’s Community-First Strategy Raised $68.3M in Presale; Cardano To Roll out New Update & Solana Price Prediction Bullish

    0 shares
    Share 0 Tweet 0
  • Top 10 Altcoins Under $1 to Invest in 2025

    0 shares
    Share 0 Tweet 0
  • Vanguard Routing Number: How to Find and Use It

    0 shares
    Share 0 Tweet 0
  • Alex Mashinsky Net Worth: From Tech Pioneer to Legal Battle

    0 shares
    Share 0 Tweet 0
  • How to Earn Passive Income? Embrace the Future of Passive Income and Earn 20% Instant USDT with Caged Beasts Coin

    0 shares
    Share 0 Tweet 0

Recent News

$12k Void Opens Up Possibility Of Crash Toward $75,000

$12k Void Opens Up Possibility Of Crash Toward $75,000

January 11, 2025
Phishing, Fake Mining Scams, and $474K Loss in One Week

Phishing, Fake Mining Scams, and $474K Loss in One Week

January 11, 2025
3 kleine crypto’s met potentie

3 kleine crypto’s met potentie

January 11, 2025
Unbelievable 1000x Return in Just 12 Hours!

Crypto Whale Bags $4.9M in Profit with Solana’s AI Meme Coin

January 11, 2025
FinCurrency Logo White Mode Retina Mobile

FinCurrency is a user-friendly platform that stands out as a unique source where our strong team of experienced and academically qualified writers, who are experts in their fields, analyze current issues and global affairs related to the finance and crypto world in an enjoyable and non-technical approach.

$12k Void Opens Up Possibility Of Crash Toward $75,000

$12k Void Opens Up Possibility Of Crash Toward $75,000

January 11, 2025
Phishing, Fake Mining Scams, and $474K Loss in One Week

Phishing, Fake Mining Scams, and $474K Loss in One Week

January 11, 2025
3 kleine crypto’s met potentie

3 kleine crypto’s met potentie

January 11, 2025
Unbelievable 1000x Return in Just 12 Hours!

Crypto Whale Bags $4.9M in Profit with Solana’s AI Meme Coin

January 11, 2025

WARNING:

The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision. The information on this website is general in nature so you must consider the information in light of your objectives, financial situation and needs.
Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. This website is free for you to use but we may receive a commission from the companies we feature on this site.

  • Home
  • About Us
  • Privacy Policy
  • Terms and Conditions
  • Team
  • Contact

© 2024 FinCurrency - Global News

No Result
View All Result
  • Home
  • News
  • Economy
  • Finance
  • Crypto
  • Technology
  • Terms and Conditions
  • Contact

© 2024 FinCurrency - Global News

Banner 1
Banner 2
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Terms and Conditions.