Key Bitcoin Price Fractal Predicts a $3,000 Correction Is Due

Key Bitcoin Price Fractal Predicts a $3,000 Correction Is Due
фото показано с : newsbtc.com

2020-11-14 10:00

Bitcoin has undergone a strong rally over the past few weeks, pushing as high as $16,500. Analysts are starting to fear that a correction is due, though.

One crypto-asset analyst recently shared a fractal showing that the cryptocurrency is trading in a remarkably similar way to how it did during the 2017 highs at $20,000. This fractal analysis predicts that a drop to $14,000 will take place in the weeks ahead.

Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A Bottom This Fractal Predicts a Bitcoin Correction Is Due

The crypto-asset analyst that predicted Bitcoin would drop to $9,800 in September is now suggesting that another retracement might be due.

The chart shows that Bitcoin’s recent price action looks extremely similar to how it looked at the $20,000 all-time high. This correction could take Bitcoin toward $14,000, the chart shows, if the fractal plays out to a T.

Chart of BTC's price action over the past few weeks with a fractal analysis to the 2017 blow-off top that took Bitcoin to $20,000. Chart by crypto analyst Coiner-Yadox (@yodaskk on Twitter). Source: BTCUSD from TradingView.com

Another trader also thinks that a correction is due. He recently said on the matter:

“Almost forgot my chart today, was a little busy IRL but a challenge is a challenge. I think going into the wknd you should be very cautious with getting caught long especially with equities being bearish. Don’t see much other than we might have topped. I am flat. I’m a bit groggy but topped on LFT, I would be skewed to taking majority shorts above 16.3k until we open and close monday above this level.”

Related Reading: Tyler Winklevoss: A “Tsunami” of Capital Is Coming For Bitcoin A New All-Time High May Come Soon

While Bitcoin may face a short-term drop, key investors in the space still believe the cryptocurrency will hit a new all-time high before 2020 is over.

For one, Tyler Winklevoss, CEO of Gemini and a Bitcoin billionaire, was recently quoted as saying on Twitter:

“I do think we will see an all-time-high price for #Bitcoin before 2020 is over. Even though the price has climbed from 10k to almost 14k in less than a month, it hasn’t really gone on a breakout run yet. When we start to see 3-5k surges then the bulls will be on the run.”

This optimism has been echoed by Raoul Pal, CEO of Real Vision and a former hedge fund manager. Pal thinks that Bitcoin will hit a new all-time high at latest by Q1 2021.

Related Reading: 3 Bitcoin On-Chain Trends Show a Macro Bull Market Is Brewing Featured Image from Shutterstock Price tags: xbtusd, btcusd, btcusdt Charts from TradingView.com Key Bitcoin Price Fractal Predicts a $3,000 Correction Is Due

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 95913.57 (+0.25%)
Объем 24H $41.145b
Изменеия 24h: -1.46 %, 7d: -7.06 %
Cегодня L: $95217.68 - H: $97458.26
Капитализация $1899.061b Rank 1
Цена в час новости $ 15886.03 (503.76%)

due bitcoin correction fractal trading remarkably cryptocurrency

Источник: newsbtc.com

due bitcoin → Результатов: 126


In a Tale of Two Opposing Views, Bitcoin Enthusiast Says Security Won’t Suffer Due to Block Reward Reduction

Linux Kernel developer, also part of Blockstream, Rusty Russell, expressed his concerns regarding block rewards and how they are decreasing. He shoots back at original post published by Dan Held, who made arguments as to why Bitcoin’s security is fine, and it seems like Giacomo Zucco is siding with the latter. Fears of #bitcoin security […]

2019-5-30 19:05


Bitcoin’s [BTC] relationship with the US government is still very ‘unclear,’ claims Ikigai’s Travis Kling

Due to the independence of the virtual asset class, the cryptocurrency industry has often faced criticism in the past, failing to achieve general validation from economic institutions. The scenario has changed over time however, as Bitcoin [BTC] and other crypto assets have started to be accepted across the United States and the world, despite governments […] The post Bitcoin’s [BTC] relationship with the US government is still very ‘unclear,’ claims Ikigai’s Travis Kling appeared first on AMBCrypto.

2019-5-29 17:30


Фото:

Bullish on Bitcoin, Bearish on Trade Relations With Jeffrey Tucker

Dave and Grahm are back with news and price narratives around 2019’s top-performing financial asset. This week’s stories include mainstream media’s Bitcoin FOMO, the real story of Laszlo Hanyecz (the guy behind Bitcoin Pizza Day), Dutch authorities taking down Bestmixer, Tether being partially backed by bitcoin and what Libertarian politician Ron Paul thinks about the U.

2019-5-29 16:42


Bitcoin [BTC]: ‘Toxic Culture’ feud grows as Blockstream co-founder blocks Samson Mow on Twitter

Over the past 48 hours, the Bitcoin community has been largely divided due to its contrasting opinions on the prevalent Bitcoin [BTC] culture on social media. A large part of the community had deemed itself “toxic,” in terms of how new people in the community were treated, whereas some suggested that few people simply did […] The post Bitcoin [BTC]: ‘Toxic Culture’ feud grows as Blockstream co-founder blocks Samson Mow on Twitter appeared first on AMBCrypto.

2019-5-28 22:30


Bitcoin Cash’s [BCH] Roger Ver accuses Tone Vays of losing BCH vs BTC bet despite ‘cheating’

Bitcoin [BTC] has often been reprimanded by the Bitcoin fork coin maximalist due to its scalability, block size, and mining fees, among other things. The debate surrounding the digital coins at the joint edition of CC Forum and Malta AI & Blockchain Summit witnessed an argument between BCH’s Roger Ver and Bitcoin maximalist Tone Vays.

2019-5-26 17:30


Bitcoin Applauded For Its Associated Initiatives In Venezuela By Open Money Initiative CoFounder

Bitcoin Applauded For Its Associated Initiatives In Venezuela Many supporters of the digital currency have always advocated for the use of cryptocurrencies as a daily mode of transaction. Bitcoin and other digital assets in Venezuela have been on the rise largely due to the drastic economic and political collapse in the country. Recently, during a […]

2019-5-23 19:33


Фото:

Myanmar’s Central Bank Wary of Volatile Cryptocurrencies; Cautions Investors to Not Trade

According to a report by The Myanmar Times, published May 20, 2019, the Central Bank of Myanmar (CBM) has warned investors against trading in cryptocurrencies due to their volatile nature. The Burmese Apex Bank Issues an Anti-Crypto Warning Aiming to safeguard novice investors from the volatile nature of digital currencies, the CBM earlier has issuedRead MoreRead More.

2019-5-21 13:00


The Central Bank Of Myanmar Seeks To Shun Bitcoin as Crypto Adoption Grows at Rapid Pace

Myanmar, a small developing country tucked in the western side of Southern Asia is showing signs of ignoring the bitcoin craze that has been on since its development. Since bitcoin is built on a concept that could entirely do away with banks if adopted due to its decentralization aspect, central banks are a little terrified […]

2019-5-21 02:01


Bitcoin Could See Profit-Taking Pullback to Mid-$6K, CNBC ‘Experts’ Say

Panelists at CNBC say that Bitcoin price could be due for a pullback despite climbing more than 120 percent since the start of the year. Third Time’s the Charm for Bitcoin? After months of muted conversation around Bitcoin, CNBC analysts are now back in the saddle again, with cautiously bearish sentiments about BTC as the cryptocurrency continues to enjoy a positive trajectory in 2019.

2019-5-16 14:00


Japan-based bitFlyer Exchange Has Plans For Bitcoin Trading Margin Requirement Halted

In an announcement today made by bitFlyer, one of the biggest bitcoin exchanges in Japan, it stated that due to new guidelines and regulations set by the Japan Virtual Currency Exchange Association, and since bitFlyer is a member of the Association, they will start rolling out changes to its trading platforms. The changes were planned […]

2019-5-16 07:03


Bitcoin’s [BTC] pump is due to ‘credentializing’ of crypto by the likes of Microsoft and Facebook, claims Mike Novogratz

Much of the cryptocurrency community was excited and confused in equal measure after Bitcoin [BTC] crossed the $8000 mark. The majority of the community could not put their head around a reason for this consistent pump, with many analysts and traders stating that there were no fundamental factors affecting the market at the moment.

2019-5-16 23:30


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin Decline Continues: Are Bulls Losing Control?

Bitcoin price extended losses and traded below the $100,000 zone. BTC is struggling and might continue to move down toward the $92,000 support zone. Bitcoin started a fresh decline from the $102,000 resistance zone.

Bitcoin Price Struggles at $100K: Is The Rally Losing Steam?

Bitcoin price struggled to clear the $102,000 resistance zone. BTC is correcting gains and might test the $97,500 support zone. Bitcoin started a downside correction from the $102,000 zone. The price is trading above $98,000 and the 100 hourly Simple moving average.

Bitcoin Price Dips Again: Is The Momentum Shifting?

Bitcoin price started another decline and traded below the $98,000 support. BTC dipped toward the $95,000 level and is currently correcting losses. Bitcoin started a fresh decline below the $98,000 support zone.