BITCOIN 50% FIB FRACTAL | ACCUMULATION UNDER 50% FIB - $7400

Apr 6, 2020

2015

• 50% Fibonacci Level held as a pivot as price traded under it whilst testing it
  
• 50% Fibonacci was re-tested upon breakout
  
• Capitulation was -65%
  
• Capitulation wick was -22% below the close
  
• Price simply traded sideways within a range
  

2020 vs 2015 Similarities

• 50% Fibonacci Level being tested as of now and this is a key pivot zone
  
• Capitulation was -62% which is similar to -65% of 2015
  
• Capitulation wick was -26% below the close which is similar to -22% of 2015
  

______________________________________________________________________________________________________

Summary of Both Charts:

• Big Capitulation
  
• Initial Retracement
  
• Sideways Accumulation Between Low & Retracement Level
  

VERDICT: Bitcoin to remain under $7400 and trade sideways for a few months, bouncing between $3800 and $7400

Apr 10, 2020

Note