Bitcoin to $58K next? A 2019-like 'reversal ascending triangle' hints at more...
BTC price charts suggest that $52,500 should be a very challenging resistance level to flip. A sharp reversal in the price of Bitcoin (BTC) out of an otherwise bearish technical setup has raised its chances of reaching $58,000 in Q2.Bitcoin price bottoming out?On the daily timeframe, Bitcoin broke out of its ascending triangle on March 27 to the upside, bringing the much-anticipated level of $50,000 within its range. Interestingly, ascending triangles are continuation patterns, meaning they typically resolve by sending the price in the direction of its previous trend once it breaks out of....
Related News
APE has been pursuing a rare ascending triangle reversal breakout, with its profit target at $8.40. ApeCoin (APE) rallied to start the week as traders considered Yuga Labs' decision to open its Otherside metaverse for selected users. In doing so, the token broke out of a technical pattern that hints at another 45% price rally by September 2022.Otherside metaverse euphoriaAPE's price surged by almost 23.5% week-to-date to reach $6.12 a token on July 19. The weekly gains came as a part of a rally that started on July 16. Interestingly, Yuga Labs invited 4,300 players of its Otherside gaming....
Nearly $170 million left Ethereum-based investment funds in 2022, signaling a drop in institutional demand. Ethereum's native token Ether (ETH) faces the possibility of a 35% price correction in Q2 as it comes closer to breaking below its "ascending triangle" pattern.ETH price breakdown ahead?Ether's price swung between profits and losses on May 2 while trading around $2,825, showing indecisiveness among traders about their next bias. Interestingly, the Ethereum token wobbled in the proximity of a rising trendline that constitutes an ascending triangle pattern in conjugation with a....
The cryptocurrency market is trending bearish on the short-term, keeping Bitcoin and Ethereum prices at bay after an enormous Q1 2021 rally. But there is no telling if the bull market is officially over, or if a bounce could materialize into a larger recovery. An ascending triangle pattern and long-term trend line could provide a clue as to what might happen next, and it just so happens to match a pattern from the last cycle that took Ether to its bull market peak. The Ethereum Fractal That Could Keep The Bull Run Climbing Ethereum’s recent local top set back in April around $4,400....
Bitcoin price is consolidating in an ascending triangle pattern while market participants wait for more catalysts. Bitcoin Price Key Highlights. Bitcoin price is back in consolidation after making strong moves in the past few weeks. Price has formed higher lows and found resistance around $680, creating an ascending triangle pattern. Bitcoin has just bounced off the triangle support and appears ready for another test of resistance. Technical Indicators Signals. The 100 SMA is below the 200 SMA so the path of least resistance is to the downside. However, the gap between the two moving....
In classical technical analysis, an ascending triangle forms either as a continuation pattern midway through an uptrend or as a reversal pattern at the end of a downtrend. A break out of the triangle (i.e. a candlestick close above the upper channel) signifies a pattern completion, and infers a target of at least the height of the triangle in question. A quick look at the 15 minute price chart on the bitstamp feed reveals just such a pattern, and - therefore - offers up a bullish bias for the latter half of this week. We are currently trading just shy of 237, and approaching the apex of....