The Idea That The Bitcoin Bottom Is In Is Broadening
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....
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Bitcoin price is currently flirting with a downward trend line that thus far has capped off any further upside. It is also what led to the sizable drop and historic quarterly close. Because all eyes are likely on this major trend line preventing the top cryptocurrency from further new highs, any reaction at this level should be especially notable. Here is a closer look at the trend line and what might happen when it ultimately breaks. One Line Could Prevent Bitcoin Price From New All-Time Highs As this article gets typed, the urgency to hit publish is increasing, as Bitcoin price is making....
The megaphone-shaped pattern reflects growing disagreement between investors over the next Bitcoin trend bias. Bitcoin's (BTC) latest rebound from below $30,000 has increased its prospects of extending its retracement move higher, at least according to one classic technical pattern.Dubbed as Broadening Formation, the megaphone-shaped pattern appears when the price moves inside two diverging trendlines. Investopedia states that a broadening formation represents disagreement over the next potential bias among investors. As a result, the price forms higher interim peaks and lower interim....
The Bitcoin price is rising in sustained algorithmic bullish trade. Manual sellers appear to be entering the market at the $340 Bitstamp price level, and technical analysis evaluates the potentials on the price chart. Today's feature looks at the "unbanked poor" that is now becoming a talking point amongst Bitcoin entrepreneurs. Bitcoin and the Fortune at the Bottom of the Pyramid. Global Economy. Bitcoin Price Analysis. Summary. Comments. Bitcoin Price and the Fortune at the Bottom of the Pyramid. The idea that Bitcoin will "bank the unbanked poor" is being mentioned with increasing....
The XTZ price rally, driven largely by Tezos' entry into the NFT space, has ended up painting a classic bearish structure. A recent price boom in the Tezos (XTZ) market risks exhaustion as it triggers a classic bearish pattern.Dubbed as the "ascending broadening wedge," the pattern develops when the price oscillates between two upward but diverging trendlines. According to its creator Thomas Bulkowski, these wedges tell less about buying exhaustion and more about sellers' ambition to take control, i.e., buyers tend to lose dominance every time the price touches the upper trendline.XTZ's....
Financial authorities in Singapore are taking steps toward increased oversight in the crypto space with the city-state’s central bank reportedly asking companies to provide additional information about their activities and assets. Ahead of a possible broadening of the applicable rules, the authority is trying to get a clearer idea of their financial state, knowledgeable sources say.
Singapore Regulators Send Crypto Firms Questionnaire, Expect Prompt Response
The Monetary Authority of Singapore (MAS) has sought to acquire detailed information from cryptocurrency firms....