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142 shares, 355 points

Bitcoin price drop matches October 2017 and BTC “padolization” is still predicted before 2022. Cryptocoin. com

As we reported earlier on , even the “buying bearish” opportunities with Q4 2017 match up almost to the day.

A buying opportunity for Bitcoin?

Bitcoin (BTC) drops below $60,000; however, BTC price action still mimics the dazzling 2017 bull run. The latest data covering Bitcoin’s current halving cycle compared to the previous one shows how similar 2017 and 2021 actually are. Bitcoin has had its ups and downs this year, but BTC/USD mimicked the 2017 fractal almost in a copy-paste fashion. . The new analysis yields the same result, and even that is nothing new for those worried about the October 27 drop to $58,000. Surprisingly, the price pattern in September and October 2021 practically coincides with 2017. Noticing the trend, popular Twitter account Smart Crypto called for a “padollama” in time for 2022.

Using Fibonacci sequences, if the rest of the quarter follows the same timeline as four years ago, there are significantly higher prices for Bitcoin. An order of magnitude higher than the 2017 peak, these fiadollarsars could reach $300,000. The trader is talking about a deeper BTC price correction. However, analystsdollarser warns that in the short term, those who are overly long in BTC could face serious pain. Predicting a potential drop to $50,000 this week, trader Filbfilb reiterated on October 27 that even $57,000 looks unreliable as a potential domestic price floor.

https://twitter. com/filbfilb/status/1453122961549012995

Funding rates continued to decline as BTC/USD hovered around $59,000 prior to the opening of the US market.


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142 shares, 355 points

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