Cryptocoin. com, Bitcoin price is trading in a narrow range. However, looking at the historical volatility of BTC, a fractal pattern may be forming, indicating that the BTC price is about to climb to unprecedented heights, according to one analyst. The expert points out that this fractal is related to the change in volatility. Here are the details…
Crypto expert: This Bitcoin fractal could send price to highs
According to crypto expert Tony Spilotro, when we look at the historical volatility indicator on the weekly timeframes, we can see that an old BTC pattern has emerged. During the previous bull market, which obviously didn’t follow much in terms of “upward” price action, volatility was finally held above a key level after one of the biggest tremors, starting the last leg of the bull market.
Anyone who assumed this was the pinnacle of the cycle would be left in the dust, as Bitcoin provided more than 900% ROI and volatility became parabolic, according to Spilotro. But Bitcoin is back, trying to stay above a very similar support line, and if successful, it should send back volatility along a parabolic curve along with price action. According to the expert, this would mark the peak of the current bull cycle around December, which has historically been a key high or low point every year since 2017.