Bitcoin reached $13,800 this week. Traders expect prices to fall to $12,300 before rebounding again, based on a technical pattern that has repeated twice since March. The next hurdle for bulls is $14
Bitcoin reached $13,800 this week. Traders expect prices to fall to $12,300 before rebounding again, based on a technical pattern that has repeated twice since March.
The next hurdle for bulls is $14,000. Break through and traders could target $20,000. Wednesday brought a sharp selloff that dropped BTC to $13,000, the first support zone. Buyers moved in and recovered to $13,500, but selling pressure capped the gains there.
Advertisement
728×90
The pattern at work is called an upside parabola fractal. Bitcoin has traced it out twice since the March crash to $3,800. After a parabolic surge, prices reverse to a support level, trade sideways, then rally again with the old peak becoming new resistance. Eventually that resistance becomes support as the cycle repeats. Bitcoin is cycling through this for the third time.
If the pattern stays true to form, the current wave can still reach $13,800 or test $14,000 in the near term. Rejection there would mean a roughly 10% drop. That decline would land near $12,300—the support level where bulls can regroup and launch the next advance.
The first two cycles support this math. If the pattern holds, buyers will accumulate at $12,300 and prepare another run through $13,800. Once prices settle there, what used to be resistance becomes the support level for pushing higher.
Bitcoin trades at $13,274, with shorter-term charts indicating additional downside.
MiningPool content is intended for information and educational purposes only and does not constitute financial, investment, or legal advice.
Advertisement
728×90
Bitcoin reached $109,356 on January 20, 2025, marking a new all-time high coinciding with Trump's inauguration.
Bitcoin Cash ABC's price rocketed 62% in the past day, climbing from $12.27 to $19.97 as the project released a new client focused on stability fixes. The rebound offered holders a reprieve after the
Bitcoin reached $18,483 in the past 24 hours, extending a significant rally over the previous week. BTC/USD climbed more than 15 percent in the last seven days following a breakthrough past the $16,00
Law enforcement caught a California man attempting one of the more dramatic getaways in recent financial crime history. Matthew Piercey, accused of orchestrating a massive investment scam, tried to es
Grayscale Investments has crossed an unprecedented $10.4 billion in digital asset holdings, marking the first time the institutional crypto fund manager has reached this significant threshold. The mil
DeFi token yearn.finance (YFI) jumped more than 20% as Bitcoin surged past $18,000, sparking enthusiasm across the crypto market. The token climbed from just above $21,000 to an intraday peak of $24,8
Verifiable crypto journalism, delivered to your inbox.
Weekday mornings. No hype. No financial advice. Just what happened and why it matters.
No spam. Unsubscribe anytime. Read our privacy policy.
