BitcoinShort
Fractal analysis of self-similar patterns XAUUSD and BTCUSD
In this idea, technical and fractal analysis of two instruments XAUUSD and BTCUSD were used. Why fractal self-similarity of different instruments can work? My opinion is that in the fractal analysis of any market, society and its mood play the leading role. Therefore, the figure of the price movement of these two specific Gold and Bitcoin vividly shows the mood of people at certain periods of time. It is trite, but the attitude of people towards bitcoin is based on the desire to preserve and increase their finances. The same is true for gold in the period from 1978 to 2014.
Also, specifically in the place where the pattern for a long should pass, we have a strong support level at the psychologically important price of 40,000. I think that altcoins will begin to rise in price a little earlier, during the flat movement of Bitcoin. But this is not a fact, since it is not clear how people will react to a small collapse in prices. Globally, I look forward to the beginning of the pattern on July 10-20 and the price peak on October 5-15.
Also, specifically in the place where the pattern for a long should pass, we have a strong support level at the psychologically important price of 40,000. I think that altcoins will begin to rise in price a little earlier, during the flat movement of Bitcoin. But this is not a fact, since it is not clear how people will react to a small collapse in prices. Globally, I look forward to the beginning of the pattern on July 10-20 and the price peak on October 5-15.
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