Price action that is seen in Bitcoin (BTC) markets seems entirely random, controlled by a select group of “whales” and “institutions” that can seemingly flash crash any digital asset with a few clicks. Yet, this is quickly turning out not to be the case. Earlier this week, we reported that one analyst, going by the moniker “Crypto Kaleo”, revealed that BTC was currently trading as a fractal (a previous bout of price action/pattern overlayed/fit onto the current chart) suggested almost exactly.
In fact, Bitcoin traced early-May’s movements to a tee, experiencing similar drops and rebounds at similar points. This fractal is so accurate that is seemingly predicted the recent move from $8,000 to $8,900, which was a move that caught many regular traders off guard. As Kaleo noted after Sunday’s 10% spike, the chart’s trends are near-identical, even in terms of the hour-to-hour price action.