Bitcoin Price Breakout and Trading Update (now with 100% more potential Bull Flag)
Upside Breakout. Hourly Bitcoin Price on Bistamp with Fibs, Support/Resistance/Trend Lines and MACD. The trading range Bitcoin found itself mired in for the last few days has finally broken to the upside. After the fall from $1000 (Bitstamp rate), the Bitcoin price found strong support and bottomed around $800, as suggested in my last trading update. Bitcoin price then struggled to rise above the 38.2% Fib or $850 level. Now broken to the upside, this level will likely act as support as Bitcoin price currently falls to retest the breakout. The next immediate challenge is the 50% Fib, which....
Related News
An analyst has explained a dream scenario for XRP based on a Bull Flag that the cryptocurrency has potentially been following on the monthly chart. XRP Could Be Trading Inside A Bull Flag Pattern In a new post on X, analyst Ali Martinez has discussed about how XRP has been forming a Bull Flag recently. The “Bull Flag” is a type of Flag from technical analysis (TA). Related Reading: XRP Jumps To $2.56 Despite 240% Increase In Profit Taking A Flag pattern looks like, as its name suggests, a flag on a pole. A consolidation channel with two parallel trendlines forms the....
The Dogecoin price has recently exhibited a classic bull flag pattern on its price chart, a technical indicator often signaling continued upward momentum. The Dogecoin price has mostly traded below $0.4 in the past seven days on the back of a continued price consolidation. At the time of writing, Dogecoin is trading at $0.39, sitting firmly within the consolidation phase of this bull flag pattern. KrissPax Identifies Key Target For Dogecoin Price This development of a bull flag pattern was highlighted on the social media platform X by crypto analyst KrissPax, which relays to the current....
An analyst believes Pudgy Penguins (PENGU) could be close to a big breakout based on this technical analysis (TA) pattern in its 4-hour chart. PENGU Has Potentially Been Following A Bull Flag Recently In a new post on X, analyst Ali Martinez has shared what could be next for Pudgy Penguins according to a chart pattern. The formation in question is a Bull Flag, which is a type of Flag. Flags form whenever the price of an asset experiences a period of consolidation inside a parallel channel following an initial sharp move. This starting move is known as the ‘pole,’ and the....
Ethereum (ETH) prices increased by over 7% in the past week, amid a general crypto market price bounce inspired by a heightened potential for US rate cuts in the coming months. The largest altcoin now trades within the $4,700 price region following a stiff rejection from $4,800. However, recent candle formation backs Ethereum’s potential to overcome this opposition, with the immediate major resistance level tipped to still lie far ahead. Related Reading: Ethereum Chain Dominates With $516M Net Inflows In 7 Days Ethereum Eyes $5,400 Following Bull Flag Breakout In an X post on August....
A bull flag pattern resembles a flag on a pole and appears when a cryptocurrency is experiencing a significant price rise. Many security price forecasters use technical analysis, sometimes referred to as charting. However, they opt to reject the efficient markets hypothesis (EMH) altogether. The efficient markets hypothesis (EMH), also called the Random Walk Theory, is the idea that current securities prices accurately reflect the information about the firm’s value. Therefore, it is impossible to make excess profits using this information, or gains that are greater than the overall market.....