This 'biblical' Bitcoin pattern suggests BTC price can rise 30% by October
Bitcoin's price chart has a target of $28,000 based on a classic, bullish technical pattern. Bitcoin (BTC) may be down 70% from its November 2021 peak, but its rebound move in the past three weeks is raising the possibility of more upside in Q3.Bitcoin eyes 30% price rallyAt the core of the bullish argument is a technical pattern called the "Adam-and-Eve double bottom." Notably, the structure appears when the price forms two bottom-and-recovery cycles. The first cycle, called "Adam," features a pointed bottom, while the other, called the "Eve," is round-shaped. Also, the peaks of both....
Related News
Over the last few weeks, analysts have been predicting that the Bitcoin price could crash again after the initial October 10 crash. This is because of the weakening market trends that have shown that Bitcoin is still favoring a downtrend at this point. Crypto analyst Lixing_Gan on the TradingView website also shares this view, with the appearance of a descending trend pattern that suggests that the Bitcoin price is more likely to fall than rise. Bitcoin Price At Risk Of Major Crash Below $90,000 So far, the Bitcoin price has been able to maintain its hold above the psychological level of....
Litecoin price is up nearly 10% in the last 24 hours, but the recovery might only have just begun. That is if a “technically flawless” chart pattern is valid, and resolves to the upside. The pattern has taken years to form, and it could result in a move of “biblical proportions.” Litecoin Forms Technically Flawless […]
It’s been a strange few days in the bitcoin price space. A number of fundamental developments seem to have reversed the negative general sentiment from the beginning of last week, and the bitcoin price looks to reflect this reversal. However, a look at the charts from a technical perspective suggests there could be some medium term weakness. We’ve detailed head and shoulders pattern before, but for our readers that haven’t come across these patterns in our analysis yet, they are a pretty common classical technical charting pattern used in more traditional financial asset trading. They come....
In this episode of NewsBTC’s daily technical analysis videos, we look at the latest move up in Bitcoin price using the Bollinger Bands across a variety of timeframes and explain why a close above the upper band could lead to a larger move to the upside. Take a look at the video below: VIDEO: Bitcoin Price Analysis (BTCUSD): October 4, 2022 Bitcoin price had another decent sized move up to above $20,000 after continuing to respect a rounded trendline. Related Reading: Bitcoin Bounce Coincides With Possible Macro Reversal | BTCUSD Analysis October 4, 2022 Biblical Bear Market....
Crypto analyst Mikybull Crypto has identified a bullish pattern that can send the XRP price to new highs. This comes amid the growing increase in the investors’ bullish sentiment towards the XRP token. Bull Pennant Pattern Forms On XRP’s Chart Mikybull Crypto stated in an X (formerly Twitter) post that XRP has formed a bull pennant continuation pattern on the daily chart. The analyst added that the “breakout will be massive,” with XRP set to rise above $1 based on the chart he shared. Mikybull Crypto seemed really confident that XRP would rise to such heights, as he claimed that....