Bitcoin Price Spikes Higher, But Consolidation Pattern Remains Intact
Bitcoin price started a fresh increase and cleared the $80,500 zone. BTC is consolidating and might aim for more gains above the $82,000 level. Bitcoin managed to stay above $78,800 and started a fresh increase. The price is trading above $80,500 and the 100 hourly simple moving average. There was a break above a bearish trend line with resistance at $80,650 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might extend gains if it stays above the $80,500 and $80,000 levels. Bitcoin Price Regains Strength Bitcoin price found support near $78,800 and started a fresh....
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Dogecoin Price Key Highlights. Dogecoin price continued to remain under the bearish pressure, and our highlighted double top pattern is still in play. There is a cluster of resistance formed on the upside for buyers around 56.0-57.0 Satoshis. The price continued to consolidate near the 100 hourly simple moving average, as there was no break. Dogecoin price remains at risk of a break lower since our highlighted double top pattern is still in play. Double Top Pattern. We highlighted a double top pattern yesterday, which is still in play and might act as a catalyst for a downside move in the....
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Bitcoin price might keep forming lower highs and higher lows, staying inside its long-term consolidation pattern. The 100 SMA is below the 200 SMA so the path of least resistance is to the downside. However, an upward crossover appears to be brewing and the indicators could keep oscillating, indicating that consolidation might continue. RSI is on the move up, confirming that buyers are trying to regain control and push bitcoin price up to the triangle resistance around $420-430. Stochastic is also pointing up to indicate that buying pressure is resuming. If buyers are strong enough, they....