The price of Bitcoin has now shown once again, beating the resistance by $ 100,000 and continuing to increase. This seems to be normal for the course of the main cryptocurrency by market capitalization, the feeling has returned to the positive territory in recent days. With this trend taking place, an Crypto analyst explained that the price of Bitcoin actually reflects an important fractal of four years ago which generally led to bull markets.
Bitcoin Price Fractal from 2020
In a TradingView PostCrypto Analyst Tradingshot explained that the current Bitcoin trend reflects that of 2020, and that the two fractals move in a similar way to each other. Price action seems to be the same, in particular with the accumulation and distribution which take place in the same way.
For the accumulation phase, Bitcoin saw the first initial phase take place between May and August in 2020, and now a similar accumulation had taken place between March and September 2024. As in 2020, the accumulation in 2024 put an end to a bullish rally, which saw the Bitcoin price drops from $ 70,000 to more than $ 100,000 in a few months. This is similar to the rally from less than $ 9,000 to more than $ 12,000 which occurred in 2020.
What followed twice is a distribution period, where the The price of bitcoin suffered downwards and a movement laterally For several months. This took place in the beginning of 2025, in the same way that was observed between August and October 2020. Now, the second accumulation trend was completed, just as it was in 2020, and if it continues to be played, it could end with an escape for digital assets.
Consequently, the price of Bitcoin has now broken the pivot trend line separating the distribution of the second accumulation trend. At the time of the crypto analyst's post, the Bitcoin price was in the Retest phase, which he tested at $ 97,000. Since then, the price of Bitcoin has broken this area of Retest and has marked an upward trend accordingly.
Currently, the 50 -day mobile average, $ 97,100Continue to support the cryptocurrency and this is the level that the bulls will have to hold on to continue the price rally. The analyst explains that as long as this level is maintained, the price of bitcoin could see a rally similar to what was observed between October 2020 and April 2021. Tradingshot also stressed that the RSI sequences are also identical, suggesting that the cryptocurrency could fully follow this trend.
If this fractal takes place as it has done before, the target for the price of bitcoin is set at $ 150,000 for this cycle. Other macro developments such as the Fed which choose to maintain interest rates in the same way and not to raise them also embarked investors in risk assets such as Bitcoin.
Dall.e star image, tradingView.com graphic
Editorial process Because the bitcoinist is centered on the supply of in -depth, precise and impartial content. We confirm strict supply standards, and each page undergoes a diligent review by our team of high -level technology experts and experienced editors. This process guarantees the integrity, relevance and value of our content for our readers.
