Bitcoin Fractal That Crashed BTC/USD by 50% Flashes Again in 2021

Screenshot 2021 01 28 at 11.18.18 AM 980x419

Bitcoin is showing signs of replicating its trend from 2019 that crashed its prices by more than 50 percent. According to a fractal first spotted by TradingShot, an independent trade analytics firm, the flagship cryptocurrency’s downside correction move from its recently-established record high near $42,000 is very similar to its plunge in June 2019. That risks putting BTC/USD en route to deeper price levels in the monthly sessions ahead. “Notice that both 2019 and today’s Parabolic Rises share a few common characteristics,” said TradingShot analysts in a note published Wednesday. “Both rose by approximately +385% from the time they last made contact with their 1D MA50 until their respective peaks,” they added. “Both pulled-back from their peaks by approximately -30% on the low before contact was again made with the 1D MA50. At the time of the 1D MA50 test, the RSI was on the Support Zone.” Bitcoin 2019 and…

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