“This Is It”: Bitcoin Is Undergoing a Critical Breakout After Consolidation
Bitcoin has moved much higher over the past two days after many weeks of consolidation. Throughout most of September, the cryptocurrency traded snug between $10,000 and $11,000. As of this article’s writing, the coin has moved up to $11,050 as it breaks higher on fundamental and technical trends. For one, the U.S. dollar is plunging as stimulus talks have seemingly restarted in a manner that should boost alternative assets. Analysts think that this may be […]
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Bitcoin price is still stuck in consolidation but might be ready to make a strong breakout in either direction sooner or later. Bitcoin Price Key Highlights. Bitcoin price formed higher lows and lower highs, creating a symmetrical triangle pattern on its 4-hour time frame. Price is still stuck inside that triangle pattern for now but a breakout might be due since it is approaching its peak. A breakout in either direction could set the longer-term trend for bitcoin. Technical Indicators Signals. The 100 SMA is currently below the 200 SMA, signaling that the path of least resistance is to....
Key Highlights. Dogecoin price continued to trade in a range, and looks set for a near-term breakout. 66.0 Satoshis is turning out be a major support area for Dogecoin. A critical breakout pattern is formed on the hourly chart, which might ignite swing moves in the short term. Dogecoin price settled below an important support of 70 Satoshis, signaling that buyers failed to capitalize and might struggle moving ahead. Triangle Breakout Pattern. There was a consolidation phase noted for the Dogecoin price within a contracting range, which resulted in a breakout pattern formation. There is a....
Ethereum Price Key Highlights. Ethereum price is still slowly climbing, transitioning into a rising wedge formation from an earlier ascending channel. Price bounced off the mid-channel area of interest as predicted in an earlier article, reflecting increased bullish pressure. With the consolidation getting tighter and ethereum price approaching the peak of the wedge, a breakout in either direction is imminent. Waiting for Bitcoin Breakout? Bitcoin is also stuck in a consolidation pattern, as traders are probably on the lookout for more catalysts. This has kept ethereum price in....
Bitcoin price is still moving in tight consolidation, but this appears to be a continuation signal from the previous strong move. Bitcoin Price Key Highlights. Bitcoin price is still stuck in consolidation, as traders are waiting for bigger market catalysts before deciding which direction to take. Keep in mind that bitcoin just recently made a strong rally, which makes the consolidation pattern a bullish flag. Technical indicators seem to be suggesting that an upside breakout is likely. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA on this time frame,....
Ether showing strength, while Bitcoin is consolidating in a range beneath $50,000. Bitcoin (BTC) has been seeing some consolidation below $50,000 as a psychological barrier. However, during this pullback, several big altcoins have been surging in price, suggesting that the alt season isn’t over yet.Meanwhile, Bitcoin’s price faces a crucial resistance to break through, while Ether (ETH) is already cracking that resistance, hitting a three-month high versus BTC and facing a run toward the next resistance around the all-time high.The primary question is now whether this Ether breakout is a....