{"id":408555,"date":"2019-12-24T21:30:22","date_gmt":"2019-12-24T21:30:22","guid":{"rendered":"https:\/\/uniquehot.com\/?p=408555"},"modified":"2024-06-11T13:35:46","modified_gmt":"2024-06-11T13:35:46","slug":"why-bitcoin-price-could-surge-18-end-week","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/why-bitcoin-price-could-surge-18-end-week\/","title":{"rendered":"Why Bitcoin Price Could Surge 18% By the End Of the Week"},"content":{"rendered":"

Bitcoin\u2019s precipitous drop to $6,600 seen last month<\/a> caught many traders aback; nearly no one, not even the top traders and analysts, expected for that price action to play out as it did in real life. Few predicted the subsequent bounce to $7,800, where BTC sits as of the time of writing this, too.<\/p>\n

Related Reading: High Likelihood Bitcoin Bottom Came In at $6,400; Here\u2019s Why<\/a><\/h6>\n

Though, one trader has been calling the moves all along, using a lesser-known and slightly unorthodox method of analysis to predict the directionality of the Bitcoin and cryptocurrency market.<\/p>\n

The trader, NebraskanGooner. The method, fractal analysis.<\/p>\n

Bitcoin Ready to Jump 18%, Fractal Says<\/strong><\/h2>\n

Over the past few months, a popular trader on Twitter,\u00a0NebraskanGooner<\/a>, has been touting what is known as a \u201cfractal\u201d<\/a> via his social media pages. For those who missed the memo, a fractal in financial contexts is when the “historical price pattern or direction of an asset is reflected\/seen again on a different time frame and\/or for a different asset.”<\/p>\n

The fractal that the aforementioned cryptocurrency analyst has mentioned is sourced from Bitcoin’s price action in 2014, specifically the bear market and the subsequent recovery.<\/p>\n

As seen below, Bitcoin has been tracking this specific fractal for months now, with it even calling BTC’s most recent decline to $6,400, then the subsequent recovery to $7,700 just this weekend.<\/p>\n

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#bitcoin<\/a><\/p>\n

Fractal update.<\/p>\n

This actually seems like a likely path for the next couple of months<\/p>\n

Continuation from here, a dip to low 7ks where everyone starts calling for new lows, then a pre-halvening "pump" above 9k<\/p>\n

Failure to break above and hold 10k likely means new lows pic.twitter.com\/t0SVoDb5CM<\/a><\/p>\n

— Nebraskangooner (@Nebraskangooner) December 23, 2019<\/a><\/p><\/blockquote>\n