The online publication mentioned above also brings up DonAlt who says that a fractal analysis which is usually used to identify recurring price patterns is showing that BTC’s price action is pretty similar to the peak of the last BTC bull run.
He said: “Let me start this off by saying that I don’t really trade fractals, I just observe them, mostly for fun. Just noting the fact that current price action looks pretty similar to the last top. Would be ironic if the ’19 top played out the exact same way ’17 did.”
It might be time to buy BTC
Nicholas Merten (aka DataDash) says he also believes BTC will continue to move lower in the next day or two but doesn’t agree with analysts calling for a short-term drop to as low as $7,000.
“I do believe we’re going to have another day or two of correction. Breaching this support level [at $10,800] is pretty significant. I think we could easily come down to test previous support [at $9,700], not to mention $9,000 would be a good target because it was acting as resistance in May…” he said.
Bitcoin-related predictions continue and most experts say that if BTC keeps dropping in price, it might be time to buy the coin.