Comparing Bitcoin’s Price Movement to the October 2019 ‘Xi Pump’

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In Brief
  • The Bitcoin price is possibly following a fractal from October 2019.

  • BTC is trading inside of a descending triangle.

  • The fractal suggests that the 200-hour MA is likely to act as resistance.

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Throughout April 29 and 30, the Bitcoin (BTC) price increased by about 25 percent. The upward move has some similarities with a move which occurred on October 2019. This similarity was outlined by well-known trader @CryptoCapo_, who tweeted a Bitcoin chart while comparing the recent price movement to that on October 2019 — otherwise known as the 'Xi Pump.' [caption

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Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona graduate school of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.

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