Bitcoin following 2013-2017 ATH Fractal UPDATE
Welcome to the latest update
I have been posting this idea for a long time now and it is still playing out and I am so pleased to see some respected Crypto people now saying the same.
To recap
Bitcoin Fractal anchored at the 2021 Nov ATH - some people do not like to use that ATH as a real one as there are many reason why they consider it a False one...But I use it as most BTC ATH are in End of year months and it was very simply THE ATH of that cycle. It was the highest point.
And as you can see, Current PA has followed it (all be it with a certain tolerance of error)
The 2022 period was hard for BTC as we know and so the PA was driven lower but Still survived.
We can also see how it took some time for confidence to return fully but.. Here we are now, since Q3 2023, following it again Spot on.
And if we are going to continue to do this, we need that -30% Pull back as seen on the Fractel. And we do need it.
Weekly MACD is currently turning Bearish and if we want to get to a new ATH in 2025, that MACD needs to be coming off Neutral at best.
Should PA Avoid that pullback, and Range for 6 months again, it will begin to fall under the fractel. I am not sure if that is OK or not but given that we have been Above it since Jan 2023, It is not something that would give me confidence.
So, for me, I am cautious, waiting / hoping for a Drop that would be swiftly bought back up
BUY THE DIP
But then, there will come a day where we no longer follow that Fractel because, as Fantastic as it would be to follow to the top and Get a $1.3 Million BTC, I do not think it is something we should expect just yet
But then, This IS Bitcoin
Anything can happen
Be safe