The post Analyst Predicts Another Leg-Up With Price Target appeared on BitcoinEthereumNews.com.

The recent Bitcoin rally has brought a number of things to the forefront and one of those is a bullish Bitcoin fractal that has not returned in two years. Crypto analyst FieryTrading was the one to point this out in a recent analysis of the leading cryptocurrency as something that could serve as evidence that the rally will continue. Bitcoin Bullish Fractal Makes A Comeback The crypto analyst pointed to a previously identified channel in the Bitcoin price that could suggest a bullish continuation. This channel often results after a big pump and given that BTC has added around $15,000 to its price in the space of a month, it doesn’t get bigger than this. As a result of this, the channel has returned, suggesting that the BTC price could stick to this historical fractal. FieryTrading identified that the fractal had appeared back in 2019 when the price jumped from around $4,100 to $5,800. After this, the fractal had completed the move, causing the BTC price to rise above the $6,800 level. Source: Tradingview.com Then again in 2020, the fractal would reappear after the BTC price rose from around $11,000 and ended around $14,200. And just like in 2019, when the fractal was confirmed, it saw a continuation of the bullish rally which pushed the Bitcoin price above $16,000. Most recently, after Bitcoin’s price rose from $28,000 to $41,000, the fractal has reappeared once more. “The pattern that I’m talking about is a bullish channel after a big pump that results in another big pump,” FieryTrading explains. BTC price mounts recovery | Source: BTCUSD on Tradingview.com Where Does This Put BTC’s Price? Following the previous performances of the Bitcoin price whenever this fractal has appeared, it suggests that there is still a lot of runway for the current rally. The…

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Filed under: News - @ December 7, 2023 9:24 am