This Pattern Suggests Bitcoin Could See a Prolonged Consolidation Phase
Bitcoin has seen some immense volatility throughout the past few days, rallying to highs of $15,800 just over a day ago before facing a sudden influx of selling pressure that sent its price plunging to lows of $14,800. This $1,000 movement wiped out over-leveraged positions from both bulls and bears and has resulted in the […]
Related News
Bitcoin Price Key Highlights. Bitcoin price is going all out in terms of consolidation, as a smaller pennant pattern formed right inside the larger triangle visible on its 1-hour time frame. Interestingly enough, the larger consolidation pattern suggests a continuation of the longer-term selloff while the smaller consolidation pattern hints at a potential upside breakout since it's coming from a quick bounce. Bitcoin price still seems to be undecided on its next direction, as it has returned to its pre-rally levels and is waiting for more catalysts. Bears Still in the Game? Oscillators....
Bitcoin's struggle to head higher continues for yet another day as the cryptocurrency extends its boring consolidation phase. From yesterday's observation at $237.60, Bitcoin has dropped to $236.90 but the higher-top, higher-bottom structure is being maintained. In my opinion, that is the only big positive that buyers could take heart from. Technical analysis of the daily BTC-USD price chart suggests that the bulls are still running the show. Bitcoin Chart Structure - As has been marked in the chart above, Bitcoin has been maintaining a higher top, higher bottom pattern even during the....
The Solana price has surged over 33% in the past two weeks, and according to crypto analyst Ali Martinez (@ali_charts), this could be the precursor to a much larger rally. In the weekly chart (SOL/USD), the Solana price exhibits a major bullish pattern, suggesting a potential surge beyond the $1,400 mark. Is $1,400 Next For Solana? Martinez highlighted a “bull flag” formation, a classic continuation pattern in technical analysis that could signify a significant upward movement in Solana’s value in the upcoming months. “The bull flag nobody is talking about!” Martinez commented.....
Bitcoin has been caught within a prolonged consolidation phase throughout the past few days and weeks, with buyers and sellers both being unable to take control of its near-term trend. This has done little to offer investors with insight into where it may trend next, and its close correlation to the U.S. stock market makes […]
Bitcoin has undergone a strong phase of consolidation over the past week. Some fear that this may be a precursor to a strong drop, noting how BTC has formed a swing failure pattern at its highs. One analyst says that based on Elliot Wave, Bitcoin could soon move to new all-time highs. Bitcoin Could Soon Move Past $20,000, Elliot Wave Shows Bitcoin has undergone a strong phase of consolidation over the past week. The cryptocurrency […]