BeInCrypto –

The long-term chart of Bitcoin (BTC) contains a fractal, the repeat of which could take the price to the $250-350k range as late as 2021. A break through the resistance area near $60,000 could initiate a parabolic rise, similar to the end of the 2013 and 2017 markets.

What is a fractal?

Fractals are geometrical structures whose equivalents we find in nature. In simple terms, we can say that they are self-similar structures whose parts look like the whole. Natural examples of fractals are a tree, the shell of a snail, rock formations or a cauliflower. Mathematical ones are, for example, the Mandelbrot Set or the Menger Dice.

Example of a fractal – Menger Dice / Source: pl.pinterest.com

Fractals can also be useful indicators in technical analysis for effective trading. By fractals, we mean fragments of an asset’s chart, the structure of which is repeated in different periods. Thanks to the self-similarity of such fragments, an attempt can be made to predict the future behavior of price or its indicators.

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