This Fractal Shows Bitcoin Will Flatline Around $11,000 For Two Weeks

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Bitcoin now trades at $11,250 after peaking at $11,600 earlier today. The cryptocurrency has seen this volatility due to the reaction in the values of gold and the U.S. dollar to Jerome Powell’s speech. In the speech, the Federal Reserve chairman said that inflation could be over 2%. Bitcoin remains in no man’s land in terms of technical analysis. A fractal identified by two analysts suggests that BTC will consolidate in this no man’s land in the weeks ahead. The consolidation will likely mean Bitcoin trades between $10,800-11,400 for a maximum of three weeks. Bitcoin Could Flatline for the Next Few Weeks: Here’s Why Bitcoin is likely to flatline in the low-$11,000s in the coming two to three weeks according to a recent fractal analysis. A fractal, in technical analysis terms, is when an asset’s price action is repeated again on a different time frame or with a different market.…

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