The post Decoding The Possibility of Bitcoin (BTC) Price Dropping Below $20K in Q4-2023 appeared first on Coinpedia Fintech News
Cryptocurrency analyst Rekt Capital has noticed a repeating pattern in Bitcoin’s price movements, particularly in the pre-halving years. This pattern resembles what was observed in 2019, a pre-halving year. The current market conditions show similarities to this previous cycle, suggesting that history may be repeating itself.
One notable aspect of the current trend is the development of a bearish fractal. This fractal mirrors the bearish phase observed during the 2021 bull market. It involves a double top formation, where prices rise briefly before forming a lower high and potentially heading lower.
What might we expect about price movements if this bearish fractal plays out? He suggests that if Bitcoin fails to break above current resistance levels, we could see a retracement towards the $25,000 to $26,000 range. This level could then become resistance, le
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