A prominent analyst is studying fractal patterns to predict the next position of several major cryptocurrencies after the recent downtrend hit most of the market.

The analyst, nicknamed Capo, highlights how the price of Bitcoin (BTC) fell in early 2020, as well as last summer, ahead of the start of a major rally.

“Fractal BTC”.

The source: Capo / Twitter

Analysts use fractals to predict future price action based on patterns and trends created from past data. According to Capo’s chart, Bitcoin will soon explode and hit the 6-digit area.

In response to a question asking for clarification on whether BTC is rising or returning to recent lows, Capo said:

“Bitcoin could fall again in a short time frame, but that is uncertain. Holding is the best option. “

At the time of writing, Bitcoin is trading at $ 56,696, unchanged for the past 24 hours.

Next, Capo switched his fractal lens to Binance Coin (BNB), the native token of the Binance exchange. He highlighted a number of previous corrections, a parabolic base, and an extension to outline a possible breakout for the NBB in the second half of 2022.

“BNB. Interesting fractals.

I don’t know the footprint for [parabol] how long it will take to form, but the eruption can be monumental. “

The source: Capo / Twitter

The NBB was also unchanged for the past 24 hours and is currently trading at $ 614.55.

The analyst continues to look at the bitcoin pair on the leading smart contract platform Ethereum (ETH). He believes that ETH / BTC, which is making a series of higher highs and lower lows, offers a very optimistic outlook for the next several months.

“ETH / BTC.

The diagram inside is so beautiful

I’m still long on this currency pair… ”.

The source: Capo / Twitter

Ethereum is up nearly 4.5% on the day and is trading at $ 4,500.

You can see the price of the coin Here.

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Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.

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