Bitcoin Bottom: BTC Not Fulfilling This Historical Pattern Yet
On-chain data shows Bitcoin is currently not satisfying a condition that has historically occurred alongside major bottoms in the price. Bitcoin Supply In Profit Is Still Greater Than Supply In Loss In a new post on X, James V. Straten, a research and data analyst, has pointed out how BTC isn’t fulfilling the bottom condition for the supply in profit and loss metrics. The “supply in profit” here naturally refers to the total amount of Bitcoin supply currently carrying an unrealized profit. Similarly, the “supply in loss” keeps track of the number of underwater....
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Many successful traders look for double bottom and W bottom reversal patterns on technical charts in order to spot powerful price reversals. Trading in the direction of the trend is one of the best ways to be profitable. If traders learn to spot a new trend early, it provides an opportunity to buy with a good risk to reward ratio. In addition to identifying a trend, traders should also be able to recognize when it has reversed direction.While several patterns signal a possible trend change, one of the easiest to spot is the double bottom pattern. This can help traders change their strategy....
On-chain data shows the percentage of the Bitcoin supply aged between one week and one month old has now declined to the historical bottom zone. Only 3.8% Of The Total Bitcoin Supply Is Now In The 1 Week To 1 Month Old Bracket As pointed out by an analyst in a CryptoQuant post, short-term buying […]
Calls for a trip back to $20,000 or even lower were in abundance after Bitcoin collapsed by 50% and sent the market into a bearish state. However, the idea that Bitcoin has bottomed is beginning to broaden. That statement is also a double entendre, referencing a potential chart pattern which further supports the theory. Here is a closer look at the potential broadening wedge bottom pattern, how the recent market conditions fit, and what to expect if the pattern confirms. The Case For The Bottom Being In Begins To Build Bitcoin price collapsed from highs set in Q2 around $65,000 to as low....
Bitcoin price traded down this past week vs the US dollar, but is looks like BTC/USD is now forming a bullish pattern, which may push it higher. Key Points. Bitcoin price declined sharply this past week, as it traded lower not only against the USD but also vs the ETH. There was a downside move towards the $435 support level, which prevented further losses. There is likely a double bottom pattern formed on the hourly chart (data feed from Bitstamp) of BTC/USD, which may push the price higher. Bitcoin Price – Recovery Likely? Bitcoin price managed to recover after trading as low as $435 vs....
Ethereum (ETH) has witnessed a notable resurgence, reclaiming ground after hitting a crucial support level at $1,500. As traders analyze the daily time frame, it becomes evident that this resurgence may signify the formation of a bullish reversal pattern, known as a double bottom. A double bottom is a classic technical analysis pattern that often […]