Bitcoin Price Set to Reach $150,000: BTC Reflects 2020’s Bullish Fractal | Bitcoinist.com
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The Bitcoin price has once again demonstrated bullish behavior, surpassing the $100,000 resistance level and continuing its upward trajectory. This aligns with trends seen in the leading cryptocurrency by market cap, as positive sentiment has returned over the last few days. With this ongoing trend, a crypto analyst noted that the Bitcoin price is reflecting a significant fractal pattern from four years ago that typically precedes bull markets.
Bitcoin Price Fractal From 2020 Resurfaces
In a TradingView post, crypto analyst TradingShot described how the current Bitcoin trend closely resembles that of 2020, indicating that both fractals are following parallel movements. The price dynamics appear consistent, particularly in regards to accumulation and distribution phases.
During the accumulation phase, Bitcoin experienced its initial phase from May to August in 2020, and a similar accumulation phase occurred from March to September in 2024. As in 2020, the 2024 accumulation phase concluded with a bullish rally, propelling the Bitcoin price from below $70,000 to above $100,000 within a few months. This mirrors the rally from under $9,000 to over $12,000 witnessed back in 2020.
Following both events, a distribution period ensued, marked by a phase where the Bitcoin price experienced downward and sideways movement for several months. This similar pattern has unfolded into early 2025, mirroring the period between August and October 2020. With the second accumulation trend now completed, as it was in 2020, a continued alignment could lead to a breakout for the digital asset.
Side by side view of 2020 vs. 2025 | Source: TradingView
Consequently, the Bitcoin price has successfully crossed the Pivot trend line that delineates the distribution from the second accumulation phase. At the time of the analyst’s observation, Bitcoin was in the retest phase, testing the $97,000 mark. Since then, it has surpassed this retest zone and has entered an upward trend as a result.
Currently, the 50-Day Moving Average, $97,100, continues to provide support for the cryptocurrency; this level is crucial for bulls to maintain in order to sustain the price rally. The analyst notes that as long as this level is upheld, the Bitcoin price may experience a rally akin to the one observed between October 2020 and April 2021. TradingShot also highlighted that the RSI sequences are strikingly similar, indicating that the cryptocurrency may follow this favorable trend entirely.
If this fractal transpires similarly to prior occurrences, the target for the Bitcoin price is projected at $150,000 for this cycle. Additionally, macro factors such as the Federal Reserve deciding to keep interest rates unchanged have further encouraged investments in risk assets like Bitcoin.
BTC price shows strength above $100,000 | Source: BTCUSD on TradingView.com
Featured image from Dall.E, chart from TradingView.com
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