XRP Price Is Consolidating Within This Pattern — What’s Next?
The XRP price performance has been one of the bright spots in the cryptocurrency market over the past seven days. With the crypto climate becoming more uncertain with each passing day, the XRP token has been the only large-cap asset exhibiting some level of relative stability. While the altcoin has been moving mostly sideways in recent weeks, the current speculation is that the price of XRP could be on its way to a bullish breakout. The question is — how far can the third-largest cryptocurrency in its next leg up? Can XRP Reclaim $3 In Next Move? In a March 7 post on the social media....
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Here's what we're focusing on for the Thursday morning session out of Europe in the bitcoin price. Yesterday, as a result of overnight trading on Tuesday, a double top gave us a medium term bearish bias in the bitcoin price. The pattern completed mid afternoon, and we were able to enter short according to the pattern’s traditional rules on a neck breaking. Post-entry, price initially moved in the direction we’d expected, before correcting a little to the upside and consolidating somewhat throughout Wednesday evening. This is not unexpected, and the bearish trade we entered on the pattern....
Here's a look at what we are focusing on in the bitcoin price this evening. Well that’s it, another day down. The crux of this morning’s article was the head and shoulders pattern that we saw as indicative of a bearish bias for the European morning session. Action has now matured, and we didn’t see the momentum we expected – at least not yet. The range we outlined was defined by the upper limit of the pattern (the head) and the lower limit of the pattern (the neckline; the point at which a breaking would complete the pattern and active entry). Today we’ve seen a run up towards the former,....
If you read yesterday’s analysis, we noted that a classical technical charting pattern was in the process of forming in the bitcoin price. The pattern in question, an inverse head and shoulders pattern, suggested that – upon completion – we could see some considerable upside heading into the Asian session and, beyond, in to today’s European action. The bitcoin price has now matured, and as we head into the mid European afternoon on Thursday, it’s time to take a look at whether our bias proved valid and, in turn, what we can expect as we head into the close of today’s European session and....
A look at yesterday's failed technical charting pattern entry and a description of how we are going to approach today's action in the bitcoin price markets. So yesterday we ran into a bit of bad luck. In Monday’s intraday analysis, we spent the majority of our time discussing the head and shoulders pattern that was forming (if you’re not familiar with the pattern, take a quick look at yesterday’s article here) and the implications of a pattern validation on the bitcoin price going forward. Specifically, we suggested that a breaking of the pattern’s neckline, which we slated as 395.9 flat,....
Dogecoin was struggling beneath its immediate resistance mark over the past 72 hours. The meme coin was seen consolidating on its charts. In the last 24 hours, Dogecoin barely displayed any price action. Bitcoin was seen trading above the $40,000 mark finally which displayed signs of strength, altcoins were yet to follow the same price action. The current price movement of Doge has managed to invalidate its recent rally. If the coin manages to break past the $0.151 mark, the coin can begin to rally again providing respite to traders. Currently, Dogecoin has been moving between the price....