Bitcoin price in classic 'Bull Pennant' breakout as BTC whales go on buying s...
The latest BTC price jump above $65,000 has all the signs of a classic bullish breakout. Bitcoin (BTC) has the potential to rise toward $75,000 by the end of this year as it breaks out of a classic bullish pattern and picks additional upside cues from its richest investors' recent accumulation spree.Bitcoin Bull Pennant breakout in playBTC rallied over by 6% in the past 24 hours to reach a three-week high just shy of $66,500. In doing so, the cryptocurrency broke out of a consolidation range consisting of two diverging trendlines, a setup reminiscent of a Bull Pennant.Bull Pennants are....
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The APE price upside setup appears amid rumors that Robinhood might list ApeCoin. ApeCoin's (APE) market valuation could grow by nearly 250% in the second quarter of 2022 as it breaks out of a widely-tracked, classic technical pattern.APE price "bull pennant" breakout underwayOn April 13, APE's price broke above the upper trendline of what appears to be a "bull pennant" chart pattern.Bull pennants appear when the price consolidates inside a triangle-like structure following a strong uptrend. Many traditional analysts consider them as continuation patterns, for they typically result in the....
Chiron's $50-million fundraiser to back Terra-backed projects has boosted traders' appetite for LUNA. Terra (LUNA) faces the prospects of hitting $100 in the coming weeks as it paints a classic bull pennant structure.In detail, bull pennants appear as the price trends inside a triangle pattern after a strong move upside. Many analysts see it as a sign of bullish continuation, i.e., they think the instrument would eventually break above the triangle's upper trendline to resume its price rally higher.Additionally, the profit target of a bull pennant structure typically comes to be the length....
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.....
The bullish analogy appears as Bitcoin reserves across all the crypto exchanges fall to their lowest in the previous 12 months, suggesting holding sentiment among traders. Bitcoin (BTC) looks poised to pursue a run-up towards $100,000 as its price breaks out of a classic bullish structure.Dubbed as Bull Pennant, the setup represents a price consolidation period with converging trendlines that form after a strong move higher. It ultimately prompts the price to break out in the direction of its previous trend to a level typically at length higher by as much as the size of the initial large....
SOL has been forming a Bull Pennant following its 14,200% year-to-date price rally. Solana (SOL) price technicals suggest SOL can hit $275 in the coming sessions.The upside outlook for the world's sixth-largest cryptocurrency by market capitalization comes as it consolidates inside a range that appears like a Bull Pennant. In detail, Bull Pennants are bullish continuation indicators that form as the price consolidates inside a Symmetrical Triangle-like structure following a strong move upside.The consolidation trend accompanies declining volumes, reflecting on the trend's underlying....