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Bitcoin Could Be Mirroring This Extremely Bullish Gold Fractal from the 1970s

Bitcoin and the entire cryptocurrency market are currently caught within a strong uptrend that has come about just a day after the cryptocurrency witnessed a massive inflow of selling pressure that caused it to erase a good portion of its recent gains.

Where it trends next will likely depend largely on whether or not buyers can push it back above $18,000. Reclaiming this level could provide a strong new support base to grow upon.

It could confirm a “V-shaped” recovery from its recent lows, potentially allowing it to see a strong upswing that pushes it beyond its previous all-time highs in the upper-$19,000 region.