The Bitcoin Price has now shown HausseBeats the resistance of $ 100,000 and continues to rise. This seems to be a couple for the course for the leading Cryptocurrency through market cases as the feeling has returned to the positive territory in recent days. With this trend that is being played out, a crypto analyst has explained that the Bitcoin price actually reflects an important fractal from four years ago that has usually led to bull markets.
Bitcoin Price Fractal from 2020 Returns
On one TradingView PostCrypto Analyst Tradingshot explained that the current Bitcoin trend reflects it from 2020, and that both fractals move in the same way as each other. The price measure seems to be the same, especially when accumulation and distribution that are played out in a similar way.
For the accumulation phase, Bitcoin saw the first first phase played between May and August 2020, and now a similar accumulation had played between March and September 2024. Just like 2020, the accumulation ended in 2024 a Hausseartat Rally, which saw Bitcoin price goes below $ 70,000 to over $ 100,000 In a few months. This is similar to the rally from under $ 9,000 to over $ 12,000 that happened back in 2020.
What followed this both times is a distribution period, where The Bitcoin price suffered downwards and lateral movement for a number of months. This has been played out at the beginning of 2025, in the same way that was seen between August and October 2020. Now the second accumulation trend has ended, just as it was 2020, and if this continues to play, it can end in a breakout for digital asset.
As a result, the Bitcoin Prize has now broken the Pivot Trend line that distinguishes distribution from the second accumulation trend. At the time of the crypto analyst, Bitcoin price was in the retest phaseAs it tested to $ 97,000. Since then, the Bitcoin price has broken this retest zone and has highlighted an upward trend as a result.
Currently 50-day sliding mean, $ 97 100Continues to serve as support for Cryptocurrency and this is the level that bulls will have to keep to continue the price. The analyst explains that as long as this level is maintained, the Bitcoin price could see a rally similar to what was seen between October 2020 and April 2021. Tradingshot also pointed out that the RSI sequences are also identical, which indicates that Cryptocurrency could follow this trend fully.
If this fractal plays out as it did before, then the target of Bitcoin price is $ 150,000 for this bike. Other macro development that Fed chooses to keep interest rates in the same way and not raising them also has embedded investors in risk resources such as Bitcoin.
Featured image from dall.e, chart from tradingview.com
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