How you like these Fractals?
If bitcoin repeats the same pattern we saw the last time it had a significant correction, where it dropped from about $42k to $29k, bitcoin is going to go a lot higher on this next move.
There are these things called fractals in markets where you basically take a snapshot of prior trading activity and overlay that to current trading activity, and sometimes they play out in a very similar way.
Fractals sometimes repeat and sometimes they don't.
So far, bitcoin is setting up a similar pattern to what we saw back in January during that consolidation.
If this were to play out again, we are going to see another test or two of the lows and possibly get as low as about $44k before we turn back up.
Then from there we would peak around $73k after the breakout from the consolidation.
While I think this could absolutely play out, the thing I don't like about it is that if that is the peak for this next cycle, it's not even 100% from the lows.
The last top happened 100% higher than the lows, $29k to $58k.
If we bottom around $44k, I would think $88k seems more like than JUST $73k.
Fractals are nice but they don't always play out exactly. Perhaps we just see the consolidation play out in similar fashion but the breakout ultimately takes us higher than that $73k target.
We shall see.