Bitcoin Hits Major Inflection Point As Rising Wedge Breaks
Bitcoin is now sitting at one of its most critical junctures of the entire cycle. A rising-wedge breakdown has driven price straight into a key support zone just as BTC prints its first major post-ATH drawdown of over 33%, a level that has historically signaled prolonged weakness and heightened volatility. With technical pressure colliding with a historically significant threshold, the market now faces a decisive moment. Rising Wedge Break Sends Bitcoin Lower Into Key Support Zone Crypto analyst The Boss, in a recent breakdown of Bitcoin’s daily chart, highlighted the formation of a rising....
Related News
Bitcoin price appears to be trading inside a rising wedge pattern on the 4-hour chart and is currently testing the bottom. Bitcoin Price Key Highlights. Bitcoin price hasn’t made much headway north after pulling back to a nearby support zone. Price seems to be moving inside a rising wedge pattern, as buyers are trying to push higher while sellers are also putting up a strong fight. Technical indicators are hinting that further gains are in the cards for bitcoin price. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA on this time frame so the path of least....
Bitcoin price is consolidating in a rising wedge pattern and the direction of its breakout could set the tone for long-term movement. Bitcoin Price Key Highlights. Bitcoin price recently broke to the downside of its short-term uptrend, signaling a reversal underway. Price is stuck in consolidation for the time being, as traders have been booking profits from the previous drop and waiting for more cues. A break below the rising wedge pattern could confirm that longer-term losses are in the cards. Technical Indicators Signals. The 100 SMA just recently crossed below the longer-term 200 SMA....
XMR is also nearing a breakdown move led by the formation of rising wedge, a classic bearish reversal pattern. Monero (XMR) price may witness a sharp pullback by June because its 75% rally in the last two weeks has left the gauge almost "overbought."Monero price RSI meets rising wedgeDownside risks have been mounting due to XMR's relative strength index (RSI), which almost hit 70 this May 23, indicating that the market is considered overvalued. An oversold RSI could amount to a bout of declining moves, as a rule of technical analysis.Additionally, Monero is also painting a bearish reversal....
Bitcoin is likely about to visit a key inflection point, historical data shows. Philip Swift, a crypto-asset analyst, recently noted that over the past four years, Bitcoin has undergone a crucial reversal in the middle of December, namely between December 15th and 18th. This cyclicality would suggest that Bitcoin is likely to undergo an inflection point come the middle of December. Bitcoin to See a Key Inflection Point, Historical Data Shows Bitcoin is likely about […]
Ethereum Price Key Highlights. After spending weeks inside a rising wedge pattern, ethereum price finally picked a direction and might be ready for a sustained move. Price could head further south now that it broke below the rising wedge support. However, the previous breakdown failed to draw enough momentum. Ethereum price could have another chance at going for a longer-term trend, as it made a strong downside break from a consolidation pattern. How Low Can It Go? Ethereum price is currently testing the support at the moving averages, which have previously held as dynamic inflection....