The Bitcoin Bottom Is Very Close But May Take Months To Play Out, Here’s Why
As Bitcoin (BTC) trades below $70,000 following its latest decline, a crypto analyst is watching for a potential market bottom. His analysis suggests that a price floor could be near, as bearish momentum and selling pressure appear to be slowing. The analyst has pointed to a key indicator that has consistently signaled BTC’s bear-market lows […]
Related News
Bitcoin price is facing a historically volatile quarter, that’s in the past taken the cryptocurrency to either its annual top or bottom the last few years in a row. But this quarterly close is especially pivotal, due to one important but likely overlooked resistance level. How the cryptocurrency closes in less than 48 hours could […]
Crypto analyst Altcoin Sherpa recently suggested that the Bitcoin bottom isn’t yet in and that the flagship crypto could still drop to new lows. Meanwhile, other crypto analysts like Mikybull Cypto have made a case for why the bottom is in and suggested that it is unlikely that Bitcoin will drop below $50,000 again. Bitcoin Bottom Is Likely At The $40,000 Range Altcoin Sherpa mentioned in an X (formerly Twitter) post that Bitcoin is more likely to find its bottom at the $40,000 range rather than at 50,000. He noted that this would mean a “few more nasty wicks, a few more liquidations, and....
This week, Bitcoin's 150-day EMA is set to close below its 471-day EMA for only the third time in history. Bitcoin (BTC) could undergo a massive price recovery in the coming months, based on an indicator that marked the 2015 and 2018 bear market bottoms.What's the Bitcoin Pi Cycle bottom indicator? Dubbed "Pi Cycle bottom," the indicator comprises a 471-day simple moving average (SMA) and a 150-period exponential moving average (EMA). Furthermore, the 471-day SMA is multiplied by 0.745; the outcome is pitted against the 150-day EMA to predict the underlying market's bottom.Notably, each....
Bitcoin is approaching a price level that has, without exception, led to the absolute bottom of every major bear market cycle in its history, and on-chain indicators show the moment of maximum opportunity may be drawing near for Bitcoin traders to capitalize on an incoming rally. Bitcoin’s Historical Bottom At The 200-Week Moving Average One […]
The classic "double bottom" pattern's success rate of hitting its profit target lies around 78.55%. Ripple's XRP token could hit $1 in the coming sessions per a classic technical chart setup.Dubbed as "double bottom," the trend reversal indicator appears after the price bottoms out at a level, rebounds toward a higher resistance level, and then pulls back to or near the first bottom level, only to rebound again to the previous resistance line (also called neckline).Should the price close above the neckline, it anticipates an extended move upward, the length of which equals the total height....