Bitcoin price hints at 'megaphone' bottom pattern, and a breakout toward $40K
The megaphone-shaped pattern reflects growing disagreement between investors over the next Bitcoin trend bias. Bitcoin's (BTC) latest rebound from below $30,000 has increased its prospects of extending its retracement move higher, at least according to one classic technical pattern.Dubbed as Broadening Formation, the megaphone-shaped pattern appears when the price moves inside two diverging trendlines. Investopedia states that a broadening formation represents disagreement over the next potential bias among investors. As a result, the price forms higher interim peaks and lower interim....
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Solana market grapples with multiple bearish setups if it breaks below its key 50-week moving average. Solana (SOL) risks crashing 35% in the coming days as it comes closer to painting a so-called "megaphone" pattern.SOL price "megaphone" patternIn detail, megaphone setups consist of a minimum of lower lows and two higher highs and form during a period of high market volatility. But generally, these patterns consist of five consecutive swings, with the final one typically acting as a breakout signal.SOL has been sketching a similar pattern since the beginning of 2022, with the coin....
In a new technical analysis, crypto analyst Dark Defender has identified a bullish ‘Cup and Handle’ pattern on the XRP daily chart, signaling the potential for substantial gains. The pattern, which is characterized by a ‘cup’ resembling a rounding bottom and a ‘handle’ indicating a slight downward drift, suggests a continuation of an upward trend. Dark Defender notes, “XRP formed a cup & handle pattern in the daily time frame. We set targets for $1.05 & $1.88 with the Elliott Waves, and now the Cup-Handle pattern is also blinking XRP to reach the....
Bitcoin Megaphone is a revolutionary first-of-its-kind micro-publishing platform that allows people to anonymously speak their peace in an un-moderated, free speech preserving format. What makes this business model truly unique within the Bitcoin ecosystem, is that it is on a pay-per-character basis. While short posts cost mere pennies, the more you have to say, the more bits you have to pay. Mike Solomon, owner of Bitcoin Megaphone, graciously took a few moments out of his busy day for a short CCN interview. Bitcoin Megaphone Interview. MB: What exactly is Bitcoin Megaphone? Solomon:....
The only glitch in the bullish setup, for now, remains the Federal Reserve's taper acceleration plans. Cardano (ADA) may rally by nearly 30% in the coming days as it hints at forming a classic bullish reversal pattern.Sharp ADA rebound underwayDubbed "triple bottom," the pattern typically occurs at the end of a downtrend and consists of three consecutive lows printed roughly atop the same level. Meaning, triple bottoms indicate sellers' inability to break below a specific support level on three back-to-back attempts, which ultimately paves the way for buyers to take over.In a perfect....
Bitcoin price is still staying inside the consolidation pattern for now but could be ready to break out as it approaches the peak of the formation. Bitcoin Price Key Highlights. Bitcoin price is still stuck in consolidation, moving inside a symmetrical triangle formation as illustrated in an earlier article. Price just bounced off the triangle support after a number of tests and is now making its way to the top. Technical indicators seem to be suggesting that a downside breakout is due. Technical Indicators Signals. The 100 SMA is below the longer-term 200 SMA, which means that the path of....