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A accurate Bitcoin-Fractal from the year 2019 shows a BTC price by the end of 2020, or even over $ 20,000.The crypto currency after each successive upward movement of the ascending Price channel and signals a continuation to the top.Its Occurrence together with other bullish Fractal in the past year has pushed up the price by more than 150 percent in the height.
Bitcoin will reach after a precise technical pattern until the end of the year $ 20,000.
The Benchmark crypto-currency is trending currently within a rising channel, which is confirmed by the formation of more than two reactive highs and lows. The price rebounds from the lower trend line of the channel support and is aimed at the upper trend line, that is to say: the resistance.
In a similar manner, he corrected after the Test of the upper trend line downwards to the lower trend line recapture. As long as the price is fluctuating within a rising channel, its orientation bullish.
The typically follows a breakout in the direction of the prior trend. As Bitcoin rose in front of the formation of the channel, the probability of an uptrend high.
Rising BTCUSD channel pattern since 2019 | source: TradingView.com coin-database
The analogy is based on a Fractal from the year 2019. As shown in the above graph, the Bitcoin price in December 2018 from his 2018er bear area. He rose within a rising Trading range steadily, before an upward breakout of the 2. April 2019, pressed the price of $4.132 to $5.121 to the top.
This led to a price recovery, which should end in June 2019 to $ 14,000.
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Same pattern, different year
Bitcoin is repeated in the year 2020, a similar pattern. The crypto-currency was reversed after they had fallen to their lows for the Year under 4,000$.
The price rose over $10,000, before he corrected down to find support at about $8.000. This led to a series of similar Attempts.
The price went up and formed higher highs and higher lows, where he stalked in for the last time, almost $10.500. The turnover included the price within a rising channel pattern.
Formation of the Golden cross, strengthened the Bull Case for Bitcoin | source: TradingView.com Coinbase
During the rise of Bitcoin also formed a “Golden cross” – a technical indicator that occurs when the short-term moving average (blue) of an asset of its long-term moving average (orange) crosses.
The crypto-currency showed the same “Golden cross” during their rally in 2019. The conjugation with the current upward scenario serves as a strong bullish Argument for Bitcoin.
Why is a 20,000-Dollar Bitcoin?
The last row of rising channels, as well as the formation of a Golden cross, helped Bitcoin to an increase of more than 150 percent. Supportive factors such as a falling Yuan, Libras Facebook and the increase in Trade had between the United States and China.
Bitcoin may be repeated due to the underlying fundamental and technical factors, a 150 percent price rally. Even today, the Yuan is threatened due to the increasing geopolitical tensions between the US and China to fall.
Meanwhile, the quantitative easing of Central banks around the world, Bitcoin is an ideal store of value – like Gold.
Bloomberg writes in a recent report:
“Bitcoin castle in 2019 at about $ 7,000 and was thus at the lower end of its range, which favors a shift in the direction of the Highest level”
And:
“Last year, the peak at about 14,000 $, which would mean in the case of a Rotation within the new bandwidth, in the year 2020, almost a doubling of the lag.”
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