🔥 Bitcoin Weekly Higher Low: 2019 Bottom Fractal?
In today's analysis I want to talk about Bitcoin's long-term weekly timeframes and comparing it to the 2019 (and partially 2018) bear market bottom fractal. BTC has formed a weekly higher-low for the first time since late February, which is notable!
Recently, my short-term BTC analyses have been relatively bearish. I'm still more bearish than bullish until 1) BTC makes a convincing move above 26k, 2) inflation has peaked, and lastly 3) the US mid-terms are over.
However, the above doesn't prohibit us from looking at longer-term price movements.
As seen on the chart, BTC is following the 2019 fractal relatively closely. So, if 19.6k was indeed the weekly higher-low, this could very well signal that the bottom is in and that more bullish price action is near, see the 2019 for an example.
As mentioned before, the sky has not cleared yet for BTC. However, we should still consider the possibility that the bottom is in.
Recently, my short-term BTC analyses have been relatively bearish. I'm still more bearish than bullish until 1) BTC makes a convincing move above 26k, 2) inflation has peaked, and lastly 3) the US mid-terms are over.
However, the above doesn't prohibit us from looking at longer-term price movements.
As seen on the chart, BTC is following the 2019 fractal relatively closely. So, if 19.6k was indeed the weekly higher-low, this could very well signal that the bottom is in and that more bullish price action is near, see the 2019 for an example.
As mentioned before, the sky has not cleared yet for BTC. However, we should still consider the possibility that the bottom is in.
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