Fractals are very popular these days when it comes to Bitcoin price prediction. Here is another interesting fractal I’ve found on Trading View. According to it, Bitcoin price could surge to $21,500 in the second half of September 2018. Let’s take a look.
On the left side you can see the Bitcoin 4h chart for April – May 2018. On the right side there is the Bitcoin daily chart which shows prices from late 2017 until today.
Both BTCUSD charts looks pretty similar and the same pattern appears on both of them. That’s why I believe this fractal is worth our attention. So, what we can expect next to happen with the price of the most popular cryptocurrency?
Most importantly, Bitcoin price should not drop further. If the fractal is right, we’ll not see prices below 7,000 USD for Bitcoin again. So no 6,800, no 5,000 and no 3,500. Sorry bears, but you’ll have to forget about these numbers.
In the coming days Bitcoin should stay in the range from $7,300 – $8800. Somewhere in the 3rd week of June we should see a sudden spike, just like one we had in April when Bitcoin surged $1000 in a few hours. Please note, the chart on the left is 4h and the right one is the daily chart. That means price movements we expect according to this fractal should be more dramatic. If the fractal plays out Bitcoin could surge from $8,800 to $11,500 in just one day!
After that we can expect steady growth until August when the first real pullback should occur. Period after that would be ideal for swing traders and altcoins. Bitcoin would stay in $16,000 – 20,000 range until the last week of September when it should reach $21,500.
Wouldn’t that be a great summer? What are chances for this scenario to plays out, what do you think? If you don’t agree with such Bitcoin price prediction and think it will drop more, you can always short it on Bitmex for huge profits.