The analyst noted that daily Relative Strength Index (RSI) measurements indicate that this fractal phase lasted 157 days last year. Related Reading: Bitcoin Price Crash Not The End Of The Road As Analyst Shares Roadmap To $200,000 Master Kenobi further remarked that the Bitcoin price replicates this 157-day sequence for the current period, then this fractal phase began on August 5, 2024, and ended yesterday.
The crypto analyst mentioned that the accompanying chart has been slightly adjusted, with trendlines now originating from the peaks reached during the cycle. For symmetry and additional confirmation of history repeating itself, the crypto analyst remarked that it would be ideal if the Bitcoin price action closes near the trend line that aligns with the same zone from last year.
Based on this pattern, the analyst explained why the Bitcoin price could rally to as high as $169,000 in this cycle. Bitcoin Price Could Rally To $169,000 As Fractal Pattern Appears In an X post, Master Kenobi predicted that the Bitcoin price could rally to $169,000 as a similar fractal pattern from the previous bull cycle is again unfolding.
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