{"id":396718,"date":"2019-09-20T19:00:47","date_gmt":"2019-09-20T19:00:47","guid":{"rendered":"https:\/\/uniquehot.com\/?p=396718"},"modified":"2019-09-20T17:50:09","modified_gmt":"2019-09-20T17:50:09","slug":"bitcoin-price-fractal-drop-coming","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-price-fractal-drop-coming\/","title":{"rendered":"Bitcoin Price Fractal From 2017 Peak Suggests Deep Drop is Coming"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\"><a href=\"\/tag\/bitcoin-price\" rel=\"nofollow\">Bitcoin price<\/a> is consolidating ahead of what <a href=\"https:\/\/uniquehot.com\/2019\/09\/16\/low-volatility-bitcoin-price-action-decision-time-is-near-powerful-move-incoming\/\">most expect to be a major move<\/a> \u2013 one that\u2019ll set the trend for the coming months ahead and depending on the direction could confirm Bitcoin\u2019s next bull run is here.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">But a fractal \u2013 a repeating chart pattern \u2013 has appeared on current Bitcoin price charts that looks eerily similar to the price action that developed at the top of the 2017 bull run, and could suggest that a violent drop could be due soon.<\/span><\/p>\n<h2 class=\"p1\"><span class=\"s1\">Massive Head and Shoulders Fractal Matches All-Time High Top<\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">Fractals are similar patterns that appear on progressively smaller scales. They\u2019re commonly found throughout nature in everything from snowflakes to galaxy formations. They also appear in the price charts of financial assets and can help crypto analysts determined the market\u2019s next move.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/uniquehot.com\/2019\/09\/11\/bitcoin-price-downtrend-could-continue-as-indicators-begin-pointing-down\/\">Bitcoin Price Downtrend Could Continue As Indicators Begin Pointing Down\u00a0<\/a><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">One crypto analyst has spotted a potential fractal playing out on <a href=\"\/tag\/bitcoin-price\" rel=\"nofollow\">Bitcoin price<\/a> charts \u2013 one that would suggest that a massive drop and drawdown may be ahead in the coming days.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">As can be seen in the chart shared by the analyst via Twitter, a large, upward slanting head and shoulders pattern has formed at the top of the 2019 rally where Bitcoin price is <a href=\"https:\/\/uniquehot.com\/2019\/09\/13\/poll-more-than-half-of-bitcoin-investors-expect-triangle-breakout\/\">currently consolidating for many months now<\/a>.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#BTC<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$BTC<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/BTCUSD?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#BTCUSD<\/a><br \/>I know some of you won&#39;t gonna like this one, let me say first that I&#39;m still bullish on <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#Bitcoin<\/a>, but this doesn&#39;t mean I can&#39;t post a bearisch chart. <\/p>\n<p>\ud83d\udc47Just something to keep in mind. <a href=\"https:\/\/t.co\/FlJOHPCzdK\" rel=\"nofollow\">pic.twitter.com\/FlJOHPCzdK<\/a><\/p>\n<p>&mdash; MAXi. (@888Velvet) <a href=\"https:\/\/twitter.com\/888Velvet\/status\/86768128?ref_src=twsrc%5Etfw\" rel=\"nofollow\">September 20, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p class=\"p1\"><span class=\"s1\">According to the pattern, it is in the process of confirming with a throwback to the broken neckline \u2013 <a href=\"http:\/\/thepatternsite.com\/hsb.html\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">something that occurs as much as 64% of the time<\/a>.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Giving credence to the idea that this pattern will indeed confirm and breakdown, is the fact that the same pattern \u2013 or fractal \u2013 played out the same way at the top of the 2017 hype bubble. The top of the \u201chead\u201d in the head and shoulders pattern, was Bitcoin\u2019s all-time high at $20,000.<\/span><\/p>\n<h2>Could Bitcoin Price Collapse In the Days Ahead?<\/h2>\n<p class=\"p1\"><span class=\"s1\">Should the same pattern play out, <a href=\"\/tag\/bitcoin-price\" rel=\"nofollow\">Bitcoin price<\/a> could be due for an extended correction before the crypto asset finds support once again, and resumes its bull trend.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">However, throughout the crypto community of analysts and traders, not a lot of weight is given to fractals. During the consolidation, other potential fractals have been pointed out, but haven\u2019t been followed. While the patterns do appear to be similar, it could be pure coincidence and <a href=\"https:\/\/uniquehot.com\/2019\/09\/13\/poll-more-than-half-of-bitcoin-investors-expect-triangle-breakout\/\">Bitcoin breaks up from here<\/a>.<\/span><\/p>\n<p style=\"text-align: center\"><strong><em>Related Reading | <a href=\"https:\/\/uniquehot.com\/2019\/09\/18\/crypto-wyckoff-distribution-bitcoin-accumulation\/\">Crypto Analyst: Brutal Wyckoff Distribution Expected As Bitcoin Cools Offs\u00a0<\/a><\/em><\/strong><\/p>\n<p class=\"p1\"><span class=\"s1\">In addition, analyst are torn over the pattern Bitcoin price is currently in itself, with some saying it\u2019s a bull flag, and others arguing that it\u2019s a triangle \u2013 and fighting over it being symmetrical or descending \u2013 and now, a head and shoulders.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Regardless of what pattern Bitcoin price is in, <a href=\"https:\/\/uniquehot.com\/2019\/09\/16\/low-volatility-bitcoin-price-action-decision-time-is-near-powerful-move-incoming\/\">volatility is reaching extreme lows<\/a>, and when that happens, consolidation tends to resolve and it results in a <a href=\"https:\/\/uniquehot.com\/2019\/09\/16\/low-volatility-bitcoin-price-action-decision-time-is-near-powerful-move-incoming\/\">powerful expansion<\/a>. A decision will soon be made, and we\u2019ll soon know if this potential head and shoulders pattern, also had legs.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is consolidating ahead of what most expect to be a major move \u2013 one that\u2019ll set the trend for the coming months ahead and depending on the direction could confirm Bitcoin\u2019s next bull run is here. But a fractal \u2013 a repeating chart pattern \u2013 has appeared on current Bitcoin price charts that looks eerily similar to the price action that developed at the top of the 2017 bull run, and could suggest that a violent drop could be due soon. Massive Head and Shoulders Fractal Matches All-Time High Top Fractals are similar patterns that appear on progressively smaller scales. They\u2019re commonly found throughout nature in everything from snowflakes to galaxy formations. They also appear in the price charts of financial assets and can help crypto analysts determined the market\u2019s next move. Related Reading | Bitcoin Price Downtrend Could Continue As Indicators Begin Pointing Down\u00a0 One crypto analyst has spotted a potential fractal playing out on Bitcoin price charts \u2013 one that would suggest that a massive drop and drawdown may be ahead in the coming days. As can be seen in the chart shared by the analyst via Twitter, a large, upward slanting head and shoulders pattern has formed at the top of the 2019 rally where Bitcoin price is currently consolidating for many months now. #BTC $BTC #BTCUSDI know some of you won&#39;t gonna like this one, let me say first that I&#39;m still bullish on #Bitcoin, but this doesn&#39;t mean I can&#39;t post a bearisch chart. \ud83d\udc47Just something to keep in mind. pic.twitter.com\/FlJOHPCzdK &mdash; MAXi. (@888Velvet) September 20, 2019 According to the pattern, it is in the process of confirming with a throwback to the broken neckline \u2013 something that occurs as much as 64% of the time. Giving credence to the idea that this pattern will indeed confirm and breakdown, is the fact that the same pattern \u2013 or fractal \u2013 played out the same way at the top of the 2017 hype bubble. The top of the \u201chead\u201d in the head and shoulders pattern, was Bitcoin\u2019s all-time high at $20,000. Could Bitcoin Price Collapse In the Days Ahead? Should the same pattern play out, Bitcoin price could be due for an extended correction before the crypto asset finds support once again, and resumes its bull trend. However, throughout the crypto community of analysts and traders, not a lot of weight is given to fractals. During the consolidation, other potential fractals have been pointed out, but haven\u2019t been followed. While the patterns do appear to be similar, it could be pure coincidence and Bitcoin breaks up from here. Related Reading | Crypto Analyst: Brutal Wyckoff Distribution Expected As Bitcoin Cools Offs\u00a0 In addition, analyst are torn over the pattern Bitcoin price is currently in itself, with some saying it\u2019s a bull flag, and others arguing that it\u2019s a triangle \u2013 and fighting over it being symmetrical or descending \u2013 and now, a head and shoulders. Regardless of what pattern Bitcoin price is in, volatility is reaching extreme lows, and when that happens, consolidation tends to resolve and it results in a powerful expansion. A decision will soon be made, and we\u2019ll soon know if this potential head and shoulders pattern, also had legs.<\/p>\n","protected":false},"author":517,"featured_media":396720,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[428,679,6664,21578,43405],"class_list":["post-396718","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-bitcoin-price","tag-crypto","tag-fractal","tag-head-and-shoulders"],"acf":[],"yoast_head":"\n<title>Bitcoin Price Fractal From 2017 Peak Suggests Deep Drop is Coming<\/title>\n<meta name=\"description\" content=\"Bitcoin price is consolidating ahead of what most expect to be a major move \u2013 one that\u2019ll set the trend for the coming months ahead and depending on the\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uniquehot.com\/news\/bitcoin-price-fractal-drop-coming\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Price Fractal From 2017 Peak Suggests Deep Drop is Coming\" \/>\n<meta property=\"og:description\" content=\"Bitcoin price is consolidating ahead of what most expect to be a major move \u2013 one that\u2019ll set the trend for the coming months ahead and depending on the\" \/>\n<meta property=\"og:url\" content=\"https:\/\/uniquehot.com\/news\/bitcoin-price-fractal-drop-coming\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2019-09-20T19:00:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-09-20T17:50:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/09\/bitcoin-price-fractal-crypto-bubble-shutterstock_1470465935.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"4500\" \/>\n\t<meta property=\"og:image:height\" content=\"3000\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tony &quot;El Toro&quot; 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The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. 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His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \\\"The Bull\\\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. 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