- March 9, 2023
- Posted by: Tradingshot Articles
- Category: Cryptocurrency
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Bitcoin (BTCUSD) is not having the best 3 week stretch as it broke below its 2 month Channel Up. The April 2019 fractal, that has drawn widespread comparisons with the current price action recently, broke its Channel Up on a 1D candle wick, hit the Support made off the 1st Low and rebounded. Once the MACD formed a Bullish Cross, the next bullish wave started.
Today’s pattern (on 2D) has the Support of the 1st Low at 20500, a little above the MA50 (blue trend-line). Is this the last resort keeping the the 2019 fractal alive or totally irrelevant in your opinion? Feel free to let us know in the comments section below!
Tradingview link:
https://www.tradingview.com/chart/BTCUSD/VOwyLpMO-BITCOIN-Can-this-wick-keep-the-2019-fractal-alive