Bitcoin Price Collapses: Triangle Forms
A look at the bitcoin price overnight on Tuesday shows a sharp decline in the session, and sets us up for some further volatility today. As we've mentioned a few times last set of bitcoin price watch pieces, action has been relatively muted during the European session for sometime. However, when we get a sharp move like that which we saw last night, the likelihood is that the volatility will continue through to at least the early parts of the day, meaning that could be some opportunity for a profit from the market if we line up against any action with the correct levels today. So, with....
Related News
In classical technical analysis, an ascending triangle forms either as a continuation pattern midway through an uptrend or as a reversal pattern at the end of a downtrend. A break out of the triangle (i.e. a candlestick close above the upper channel) signifies a pattern completion, and infers a target of at least the height of the triangle in question. A quick look at the 15 minute price chart on the bitstamp feed reveals just such a pattern, and - therefore - offers up a bullish bias for the latter half of this week. We are currently trading just shy of 237, and approaching the apex of....
XRP has been declining over the past few days, making a retest of this Descending Triangle’s lower boundary possible, according to an analyst. XRP Has Been Moving Inside A Descending Triangle Recently In a new post on X, analyst Ali Martinez has talked about where XRP may be heading next, based on a Descending Triangle. This technical analysis (TA) pattern forms when an asset’s price witnesses consolidation between two converging trendlines. The main feature of the pattern is that its lower trendline is parallel to the time-axis. This level acts as a support boundary, while the....
An analyst has pointed out how Dogecoin is consolidating within a triangle pattern that could set up a 40% move for the memecoin’s price. Dogecoin Is Trading Inside A Symmetrical Triangle Pattern In a new post on X, analyst Ali Martinez has talked about what the triangle that Dogecoin’s 12-hour price is trading inside right now could foreshadow for it. A triangle is a consolidation channel in technical analysis (TA) that forms whenever the price of an asset trades between two converging trendlines. Related Reading: Bitcoin Bullish Signal: Sharks & Whales Are Buying The Dip The....
Dogecoin is currently seeing reasonable upside following the Bitcoin recovery above $71,000. This has sent the whole crypto market into a state of euphoria, and the DOGE price has crossed the $0.16 resistance while at it. This bullish trend is expected to continue, as one analyst points out that Dogecoin has formed a bullish triangle […]
An analyst has pointed out how Chainlink could see a major bullish breakout if its price can break past the resistance barrier of this technical analysis (TA) channel. Chainlink Is Currently Trading Inside A Triangle In a new post on X, analyst Ali Martinez has talked about a level that could trigger a major bull rally for Chainlink. The level in question is the upper line of a Triangle from TA. This pattern appears whenever an asset’s price trades between two converging trendlines. Like any other consolidation channel in TA, the upper line of a Triangle is a source of resistance and....