This summary text is fully AI-generated and may therefore contain errors or be incomplete.
Bitcoin experienced a slight decline on Halloween, dropping 2% to $34,300 after reaching its highest value since May 2022 at $35,000 on October 25. However, there are concerns that an old fractal from 2019 could lead to further losses for BTC investors. The current chart pattern resembles a “Bull Trap,” which is a temporary reversal in a bear market that lures in unsuspecting investors who then suffer deeper losses. In early 2020, Bitcoin saw a similar pattern, with a 55% increase followed by a crash below $5,000 when the COVID pandemic hit. While the initial crash was unexpected, the indicators suggest a similar price action drop and consolidation period. Additionally, macroeconomic factors, such as the situation in the Middle East and the potential for increased oil prices, could further impact the markets and limit cash flow into the crypto sector. If the fractal plays out, Bitcoin could drop to around $20,000, representing a 35% loss in value. However, it’s important to note that a significant rally followed a similar drop in 2020-2021, leading to Bitcoin’s all-time high. Looking ahead, another fractal connected to the Bitcoin halving suggests a crash followed by a surge, with a potential peak in the next bull market occurring in mid-September or mid-October 2025. In this scenario, Bitcoin could reach close to $100,000. For now, it is advised for traders to remain cautious and not succumb to fear or the fear of missing out (FOMO). It is recommended to navigate between these extremes until Bitcoin overcomes the resistance line mentioned in the article.