Bitcoin Price Technical Analysis for 19/11/2015 - Pennant within a Pennant!
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....
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A technical analysis chart of bitcoin prices suggests that the digital currency’s value is likely to shoot higher. Technical Analysis Shows A Pennant. The technical analysis chart of Bitstamp’s recent closing prices, originally published on Sober Look, shows that a triangular pattern known to technical analysts as a pennant has formed. Can a Pennant....
SOL price can preserve the bullish bias, however, as its two multi-month support levels converge for the first time. Solana (SOL) dropped on May 26, continuing its decline from the previous day amid a broader retreat across the crypto market.SOL price pennant breakdown underwaySOL price fell by over 13% to around $41.60, its lowest level in almost two weeks. Notably, the SOL/USD pair also broke out of what appears to be like a "bear pennant," a classic technical pattern whose occurrences typically precede additional downside moves in a market.In detail, bear pennants appear when the price....
There are a lot of bitcoin forecasts that are circulating around the crypto space. However, pinpointing the correct level that the digital asset will fall into has been one of the hardest tasks. Nevertheless, the analysis can often try to tell what will happen next for the digital asset due to market movements and one of those analyses has been put forward by Peter Brandt, a notable name in the crypto space. Brandt Says Brace For Downtrend In a recent tweet, the market analyst and trader had posted a chart that put forward what he believed was next for the price of bitcoin. By that point,....
A mix of on-chain, fundamental and technical indicators hints at a big XRP price rally in the works. XRP XRP has made considerable gains over the past month as traders continue to shower confidence on Ripple's legal win against the U.S. Securities and Exchange Commission (SEC).For instance, XRP price has gained 25% thirty days after Ripple and the SEC filed for an immediate ruling on whether or not XRP sales violated U.S. securities laws. In comparison, Bitcoin BTC and Ether ETH are down 4% and 11% over the same period, respectively.XRP/USD versus BTC/USD and ETH/USD daily price chart.....
ETH's price risks declining further despite rebounding over 20% in the last three days. Ethereum's native token Ether (ETH) looks ready to undergo a breakdown move in May as it forms a convincing "bear pennant" structure.ETH price to $1,500?ETH's price has been consolidating since May 11 inside a range defined by two converging trendlines. Its sideways move coincides with a drop in trading volumes, underscoring the possibility that ETH/USD is painting a bear pennant.Bear pennants are bearish continuation patterns, meaning they resolve after the price breaks below the structure's lower....