Bitcoin Breakout Beyond $50K Brings Bull Market Fractal Back In View

Bitcoin price is back above $50,000 and its return to the key resistance level has brought a potential bull market fractal back into focus. The bullish fractal in question suggests that another leg up in the crypto bull cycle is coming, matching the epic 2013 rally grand finale. If the potentially repeating price pattern playing out similarly isn’t quite enough to convince, two separate technical indicators on monthly timeframes also appear to match the conditions that prompted one of the largest rallies in the cryptocurrency’s history. Is A Clean Break Of $50K The Trigger To The Final Leg Up In Crypto? Bitcoin price is back retesting $50,000 and while the level itself might be a clear phycological barrier due to the rounded price around halfway to most long-term targets, it also happens to be the median of the asset’s logarithmic growth curve. The logarithmic growth channel has held the cryptocurrency within its boundaries for its entire existence, containing each bubble and supporting each bust. If Bitcoin passes above the median, things could move quickly | Source: BLX on TradingView.com Past bull market cycles have always concluded in the red zone, and the fact that the top cryptocurrency by market cap never made it there is the best argument for why a peak hasn’t yet occurred. Related Reading | Weekly Bitcoin Momentum Cross Bullish For First Time Since March 2021 Whether or not the bull m...