TA: Bitcoin Aims Strong Recovery, Here’s A Key Pattern For Short-term Bottom
Bitcoin price is likely forming a double bottom pattern near the $42,150 zone against the US Dollar. BTC is showing positive signs and it could climb towards $47,000. Bitcoin is finding a strong buying interest above the $42,000 and $42,150 support levels. The price is still trading well below $47,000 and the 100 hourly simple […]
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The XRP price fell as low as $2.0238 on Monday, potentially forming a local bottom. Since then, the XRP price is up almost 6%, however, the possibility of a deeper retracement remains. Two prominent chartists—CasiTrades (@CasiTrades) and Charting Guy (@ChartingGuy)—have shared their perspectives on whether the token has found its local bottom or if further downside might still be on the table. Is The XRP Price Bottom In? According to CasiTrades’ newly published chart, XRP appears to have tested the 0.786 Fibonacci retracement at $2.05 and is now showing bullish divergences across multiple....
Many successful traders look for double bottom and W bottom reversal patterns on technical charts in order to spot powerful price reversals. Trading in the direction of the trend is one of the best ways to be profitable. If traders learn to spot a new trend early, it provides an opportunity to buy with a good risk to reward ratio. In addition to identifying a trend, traders should also be able to recognize when it has reversed direction.While several patterns signal a possible trend change, one of the easiest to spot is the double bottom pattern. This can help traders change their strategy....
Bitcoin price faked out to the top and bottom of the symmetrical triangle formation as traders are positioning for major events. Bitcoin Price Key Highlights. Bitcoin price seems to be back inside its triangle consolidation pattern after a burst of volatility recently. Price broke to the upside of the triangle then snapped right back down to the bottom and is now moving sideways again. Traders could be bracing for bigger market catalysts ahead before pushing BTCUSD in a particular direction. Technical Indicators Signals. The 100 SMA crossed above the longer-term 200 SMA on this time frame....
Bitcoin could undergo a strong correction in the weeks ahead as it forms a bearish short-term to medium-term outlook. This is compounded by a futures market positioning “overhang” noted by JP Morgan analysts. Historically Accurate Analyst Fears a Strong Bitcoin Drop Bitcoin could undergo a strong drop towards $10,000 once again, says the trader who in the middle of 2018 predicted the bottom price to a 1.5% accuracy. The analyst noted that the cryptocurrency is […]
Neucoin Price Key Highlights. Neucoin's price is still trending higher, moving inside an ascending channel pattern on the short-term time frames. Price bounced off the channel resistance and Bollinger bands as predicted in an earlier article, making its way towards the channel support. Neucoin's price could be due for a bounce off the channel support, especially since this is in line with the ongoing trend. Trend to Carry On? The short-term 5-hour Simple Moving Average crossed below the longer-term 20 SMA, signaling that there's enough bearish momentum to spur a move towards the bottom of....