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Bitcoin collapsed by 9% on almost all trade when news of Bitfinex and Tether was released, but Kraken's price dropped to around $ 4,300.
Based on previous data, we can assume [with a grain of salt] that there is a possibility of forming a double bottom scheme, as was the case in 2015, when the whole community thought that Bitcoin had launched the bull after the first bottom.
Source: TradingView
The Cross of Death, formed in September 2014, raised the price of Bitcoin from 556 USD to 187 USD, followed by a false Golden Cross, erroneous signal of the beginning of an uptrend. However, the price decided to dive again, forming another cross of death followed by another cross of gold, which was the beginning of the race upward. During this period, two funds, one on January 15, 2015 and the other in August 2015, were formed.
At the time of going to press, the same pattern seemed to emerge, as evidenced by the first background on December 15, 2018, followed by a golden cross. The community speculated that this could be the start of the uptrend, which could be wrong. Supposing as the price takes the same 115 days as in 2015, the next fund could take place in the month of July 2019, after which the second gold cross could be formed, indicating the actual start of the rally.
If this theory is true, the price could be a little higher than the previous low [$3,200]that is somewhere between $ 3,250 and $ 3,400.
However, there is another possibility of reducing Bitcoin lower than previously imagined, which would make the Bitcoin price move in December 2018 a step towards the bottom. This was discussed in the previous article about the fractal nature of Bitcoin and about the fact that fractals are a representation of human emotion and can be found everywhere in nature. We can therefore suppose that this cycle is repeated.
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