Bitcoin 'double bottom' excites bulls as NVT signal predicts major move
A strong sense of deja vu is palpable from comparing Bitcoin's last bear market to this one, Stockmoney Lizards suggests. Bitcoin (BTC) is delivering striking similarities to its last bear market but the recent bottom may be its last, research says.In a tweet on Oct. 31, popular trading account Stockmoney Lizards furthered the bull case for BTC/USD.Bitcoin "repeats itself" in 2022The past few days have seen talk of Bitcoin encountering a “double top” with two spikes over $21,000. The implication is bearish — declining volume suggests that bulls will not be able to flip the level to....
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Bitcoin Price Key Highlights. The bitcoin price rally has been proven unstoppable, with bulls pushing for new highs past the $400 and $450 psychological resistance levels. Bitcoin price even completed an upside break past a double bottom formation visible on the daily time frame. Bitcoin price could be in for much more gains, as three bullish candles formed after the confirmation of a long-term uptrend signal. Aiming for $500? No signs of a major correction or even a slight pullback are materializing for now, which suggests that bullish pressure continues to build up. If so, bitcoin price....
Among the top performers from the past cycle, Shiba Inu has struggled to hold its own as its price has tumbled by more than 85%. As a result, the meme coin has been pushed out of the top 20 cryptocurrencies by market cap as the price continues to struggle. However, there could be a turn in the tide for the Shiba Inu price after a major price formation at a demand level. This historically bullish move could spell the start of another major rally for the meme coin. Shiba Inu Price Shows Bottom Signal After tumbling below $0.000013, the Shiba Inu price has now reached a critical level that....
Many successful traders look for double bottom and W bottom reversal patterns on technical charts in order to spot powerful price reversals. Trading in the direction of the trend is one of the best ways to be profitable. If traders learn to spot a new trend early, it provides an opportunity to buy with a good risk to reward ratio. In addition to identifying a trend, traders should also be able to recognize when it has reversed direction.While several patterns signal a possible trend change, one of the easiest to spot is the double bottom pattern. This can help traders change their strategy....
Bitcoin bulls should brace for a wild upside run towards $41,000. According to Scott Melker, crypto trader and host of WOAS Podcast, the cryptocurrency’s sharp rebound from $32,000 to above $38,000 confirmed two textbook bullish reversal indicators: Double Bottom and Falling Wedge. Bitcoin Double Bottom Starting with the Double Bottom, Mr. Melker highlighted two consecutive […]
Bitcoin is forming a double bottom pattern near the $45,500 zone against the US Dollar. BTC is rising and there could be an upside break above $47,200. Bitcoin started an upside correction from the $45,500 support zone. The price is now trading near $47,000 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $47,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a major increase if there is a clear move above the $47,000 resistance. Bitcoin Price Forms Double Bottom Bitcoin price declined again....