Bitcoin to Hit $22,000 If This Bearish Reversal Theory Plays Out
The cost to purchase one Bitcoin token can go up to $22,000 in the fourth quarter. That is possible if a textbook technical indicator plays out as it typically does. Dubbed as “Rising Wedge,” the pattern holds the history of reversing uptrends 63 percent of all times. It gets formed when an asset trades upward […]
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The bitcoin price is beginning a reversal pattern to the $700 level, where a congestion area should reinforce quotes for another climb to $820. Now at the $580 support level, prices are starting to form an upward reversal pattern, which will allow pull back to $700, extended to Fibonacci’s technical objective at $820. The current trading box we are considering was built according to the ended rounded bottom first pattern with the 38 percent and 62 percent Fibonacci retracement theory – it seems to be working so far. The next stage could be an upward rally into the new technical cycle. Now,....
The bearish outlook by the Elliot Wave Theory appeared as Bitcoin tumbled below $35,000. The ongoing Bitcoin (BTC) price correction could continue as per almost a century-old technical analysis principle called "Elliott Wave Theory."The interim bearish outlook put forth by the Elliot Wave Theory appeared as Bitcoin tumbled below $35,000 amid the Russia-Ukraine conflict.Bitcoin wave fractal eyes repetitionThe theory, which divides a price cycle into two sets—one consisting of five upward-trending impulse waves and the other having three follow-up corrective waves—points to the possibility....
Bitcoin price was dumped yesterday by over 20% against the US Dollar. BTC is recovering from $30K and it might attempt a bullish reversal above $40K. Bitcoin tumbled below the $40,000 and $35,000 support levels. The price is now trading well below $42,000 and the 100 hourly simple moving average. There is a crucial bearish […]
Recent events have shown the US SEC might be going after non-fungible tokens (NFTs). In a recent press release, the SEC charged Los Angeles-based media and entertainment company Impact Theory LLC for unregistered securities in the form of NFTs. SEC Goes After Impact Theory NFTs Impact Theory was one of many entertainment firms that launched […]