Bitcoin Bull Flag Suggests Price Will Explode Beyond $70,000
A classic technical indicator suggests that Bitcoin, the world's leading cryptocurrency by market cap, would become more valuable than it already is.
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A bull flag pattern resembles a flag on a pole and appears when a cryptocurrency is experiencing a significant price rise. Many security price forecasters use technical analysis, sometimes referred to as charting. However, they opt to reject the efficient markets hypothesis (EMH) altogether. The efficient markets hypothesis (EMH), also called the Random Walk Theory, is the idea that current securities prices accurately reflect the information about the firm’s value. Therefore, it is impossible to make excess profits using this information, or gains that are greater than the overall market.....
Bitcoin price is at a crossroads, either ready to fall into the troughs of a bear market, or blast off and show the world the bull run has yet to officially end. But which is it? No one truly knows, but a technical pattern and the psychology behind it could reveal the potential outcome ahead of time. Could a potential bull flag forming on daily timeframes confirm, and lead to what is ultimately the checkered flag of the current market cycle? Let’s examine the bullish chart pattern. What Is A Bull Flag? Bitcoin Price Pattern Targets New All-Time Highs Technical analysis is the study....
GMT is booming amid warnings that its 38,000% price rally since inception could end up being an "absolute joke." STEPN (GMT) has rallied strongly against the U.S. dollar this week as it looks likely to form a classical bullish technical pattern called the "bull flag."GMT eyes more upsideGMT's price rose 30% week-to-date, including a strong rally to establish an all-time high near $3.85 followed by a relatively modest correction to nearly $3. In particular, the correction phase occurred inside a descending parallel channel, raising possibilities that the price would eventually break out of....
Bitcoin price has turned bullish over the last three weeks, and looks to be breaking up and out of a near textbook bull flag pattern. The only problem is that the pattern could be a page out of gold’s playbook, which recent price action would suggest the top cryptocurrency isn’t yet out of the woods. […]
Chainlink just set a record for the most bullish green daily candle since 2020 started. The 24-hour surge beat out any intraday rallies leading up to the asset’s current all-time high. It also has kept a bull flag formation alive that could send Chainlink to $25 and another new price peak before the year is […]