Analyst: Bitcoin is forming a structure similar to the bottom in late 2022, with $83,000 as a key resistance level

BlockBeats News, August 28th, Cryptocurrency analyst Ali Charts wrote that the current trend of Bitcoin is forming a fractal structure similar to the 2022 bottoming phase. In 2023, after Bitcoin broke above a long-term downtrend, it first tested the previous year's August high, then retraced to around $20,000 before starting its further upward movement.

According to this historical fractal analogy, the key level to watch currently corresponds to the high point in May 2026, around $83,000. If Bitcoin faces resistance in this area and experiences a pullback, it may present the next significant buying opportunity; however, this assessment is based on a historical fractal and does not imply an exact price repeat.