Bitcoin Price Continues to Track Bullish $3,200 Bottom Fractal

When asked about the drawbacks of Bitcoin, many people cite the cryptocurrency market’s immense volatility — multiple days a year, BTC and its ilk have 10%+ days.

Case in point, the Bitcoin price tumbled off a cliff in late September, falling from the lofty price point of $10,100 to $7,700 in a week’s time. This move, as made evident by over $500 million in BitMEX long position liquidations in an hour, caught many investors were their pants down.

Related Reading: Does Crypto Need a Bitcoin ETF? CNBC Analyst Says Maybe Not

But Bitcoin’s price action in this scenario may not be as random as it seems. In fact, some have argued that the chart structure formed after the precipitous drop shows that bears are running out of steam. And quick.

Bitcoin Bottoming Fractal Gains Credence

If you’ve perused Crypto Twitter at all over the past week or two, you likely would have noticed the incessant mentions of a Bitcoin price fractal.

(A fractal, in the context of financial assets and their…