As BTC Slides Toward Resistance, the Chance of a Rare Triple Top Formation Co...
The cryptocurrency economy has shed a lot of value during the last six months dropping 48.70% from $3.08 trillion to today’s $1.58 trillion. While crypto markets looks extremely bearish these days, a few crypto advocates have theorized the bear market will be less harsh this time around. Furthermore, there’s also the rare scenario that bitcoin’s price could reverse and see a triple top even though it’s commonly said in the finance world “there is no such thing as a triple top.” The Chances of Bitcoin Experiencing a Triple Top Scenario Is Rare,....
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Key Highlights. Bitcoin's price traded higher this past week, but it looks like it is finding offers once again near ¥2490-2500. There is a chance of a triple top pattern on the hourly chart (price feed from Huobi), which may ignite a short-term downside move. The price looks in an uptrend, as there is an ascending channel formed on the daily time frame chart (data feed from BTCChina). Bitcoin's price is facing a tough barrier near the last high of ¥2490-2500, so it would be interesting to see whether it can manage to break it or not moving ahead. Short-term Correction? There was a decent....
Ethereum price is trading near a major confluence resistance area of $15.00. Let us see how we can trade ETH/USD in the current situation. Key Highlights. Ethereum price stayed elevated against the US Dollar, but I think one should trade carefully moving ahead. There is a monster resistance area formed near $15.00, which acted as a barrier on many occasions. There is likely a Triple top pattern forming on the daily chart (data feed via Kraken) of ETH/USD, which if valid might call for losses. Ethereum Price Triple Top? Ethereum price ETH for the third time trading near the $15.00....
Key Highlights. Dogecoin prices attempted to recover, but faced a barrier around an important trend line and resistance area of 32-33 satoshis. There was a dispiriting reaction after the recent failure, as the price created a minor new low of 22.7 satoshis, as seen on the hourly with data feed from HitBTC. There is a chance of a triple bottom pattern forming if we look at the price feed from CEX. IO. Dogecoin's price is struggling to hold an important support area, but there is a chance that the price may spike higher as there is a bullish pattern in the making. Can Buyers Capitalize?....
Shiba Inu (SHIB) price is once again at a crucial crossroads. Currently, it’s down a staggering 91% from its all-time high (ATH) of $0.00008845, recorded in October 2021. Over the past year, the token has been on a consistent downtrend, marking lower highs and lower lows on the monthly time frame. But all is not bleak for SHIB investors. The recent relaunch of Shibarium, a layer 2 blockchain, is a beacon of hope. This move is seen as Shiba Inu’s attempt to transition from its meme coin status to a more serious player in the crypto world, aiming to enable applications for....
Avalanche (AVAX) struggles to hold above key support that will set the tone for a rally to the $40 mark region anticipated by many. The price of Bitcoin (BTC) saw a retracement as it could not break and hold above important support that corresponds with the daily 50 exponential moving average (EMA). BTC’s unable to hold that region has led to AVAX struggles to form good support. Avax Weekly Chart Analysis The weekly chart for Avax shows a downtrend reversal to a low of $16.3, where buyers were more willing to step into the market. The chart shows the price of Avax needs to break and....