Failed Bearish Signal Could Send Bitcoin To $85K Next Month
Bitcoin recently gave a bearish signal, which ultimately failed to produce a meaningful pullback. Due to the technical failure, historical data suggests that in only a matter of a month BTCUSD could set a new all-time high and reach a target of $85K per coin. Here’s why. Why Failed Bearish Technicals Produce Bullish Breakouts In technical analysis, certain patterns are considered characteristically bearish or bullish. For example, the ascending triangle is a typically bullish-leaning pattern, but only breaks upward 63% of the time. The other 37%, the pattern breaks down bearish. Because of....
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Bitcoin is likely to enter a bearish market as a never-before wrong signal just got triggered. Bitcoin Headed Towards Bear Market? As pointed out by a pseudonymous trader on Twitter, there is a certain signal that has consistently been right in the previous BTC cycles. The signal in question is the Super Guppy indicator, a […]
Bitcoin price is pulling back from highs set earlier this week and fear is already setting in over another potential drop. Although the top cryptocurrency is bullish according to most technicals and fundamentals, last night’s daily close left a bearish signal on the BTCUSD price chart that could suggest the fear is warranted. If the bearish candlestick signal is valid and confirms, a sharp pullback could reset the recent rally almost completely. Here is a closer look at the potential “gravestone doji” and why it could put the nail in the coffin on the latest push by....
Key Highlights. Litecoin price failed to move lower and looks like setting up for a downside move. There is a bearish trend line on the 2-hours chart (price feed from Bitfinex), i.e. acting as a catalyst for the downside move. The price settled below the 100 simple moving average (2-hours), which is a bearish signal in the short term. Litecoin price is in a bearish trend as there is a massive resistance around $3.20-30, which is resulting in a downside reaction. Retest of Lows? We stated time and again that there is a major resistance forming around $3.20-30 in Litecoin price. It looks....
Litecoin rises more than 5 percent tracking the relief rally in Bitcoin. However, the cryptocurrency is expected to face renewed bearish momentum near $4.500. In my previous Litecoin technical analysis, I mentioned that Litecoin is in the strong grip of the bears. I maintain my bearish view on the cryptocurrency and see significant price advances being sold into. Technically, things look bearish for Litecoin and we should see $3.000 this month. Litecoin Chart Structure - There hasn't been a meaningful change in the chart structure, which is that of a lower top, lower bottom. Fibonacci....
Ethereum price is trading under a major resistance area against the US Dollar, but at the same time remained above a crucial support. Key Highlights. Ethereum price failed miserably around the $15.00 resistance against the US Dollar, and traded lower. The ETH/USD pair had a losing streak this past week, as it failed to gain momentum. There is likely a double top pattern forming on the daily chart of the ETH/USD pair, which may produce a decline in the short term. Ethereum Price Trend. Ethereum price ETH failed to trade higher this past week against the US Dollar. There was a major hurdle....