This Expanding Triangle Pattern Could Be The Last Hope For Bitcoin Bulls
Bitcoin broke through support and plunged to the lowest prices seen since 2020. However, despite all the fear the drop has caused, it could be the last low before the top cryptocurrency continues its bull run. Here is why an extremely rare Elliott Wave expanding triangle pattern could be the last hope Bitcoin bulls have for new highs before a bear market. Ralph Nelson Elliott And His Theory On How Markets Move Ask most crypto investors and they would probably agree: we are in a bear market. However, based on the guidelines of Elliott Wave Theory, the last year and a half of mostly sideways....
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Dash Price Key Highlights. Dash price continued to move higher and it looks forming an expanding triangle pattern on the hourly chart. We highlighted recently a flag pattern on the hourly chart, but it looks like it is an expanding triangle. The price is above the 100 hourly simple moving average, which is a positive sign. Dash price showing a lot of positive signs, which means there is a chance of the price moving higher in the near term. Expanding Triangle. We highlighted recently a flag pattern on the hourly chart, but it looks like it is an expanding triangle. The price continued to....
Bitcoin price broke out of its triangle consolidation pattern, indicating that bulls are ready to take control once more. Bitcoin Price Key Highlights. Bitcoin price was previously stuck inside a symmetrical triangle consolidation pattern as bulls and bears were in a tight race. Bulls eventually won out as price made another upside breakout, following the previous break higher on an earlier triangle formation. This puts bitcoin price on track towards testing the $800 handle, which might spur profit-taking once more. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA....
In classical technical analysis, an ascending triangle forms either as a continuation pattern midway through an uptrend or as a reversal pattern at the end of a downtrend. A break out of the triangle (i.e. a candlestick close above the upper channel) signifies a pattern completion, and infers a target of at least the height of the triangle in question. A quick look at the 15 minute price chart on the bitstamp feed reveals just such a pattern, and - therefore - offers up a bullish bias for the latter half of this week. We are currently trading just shy of 237, and approaching the apex of....
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Bitcoin price is still inside its long-term triangle consolidation pattern and might make another test of the resistance. Bitcoin Price Key Highlights. Bitcoin price has formed higher lows and found resistance at the $470 level, creating an ascending triangle pattern on its daily chart. Price just bounced off the triangle support and is due for a test of resistance once more. Technical indicators are signaling that further gains are possible. Technical Indicators Signals. The 100 SMA is above the 200 SMA so the path of least resistance is still to the upside. A sharp move lower could find....