Bitcoin 'Doji' points to bullish reversal scenario as BTC holds $36K support
BTC is more than 50% down from its $69,000 all-time high and traders seem to have no clue about the digital asset’s next direction. It is not too late for Bitcoin (BTC) to reclaim its bullish bias as it halfway paints an indecisive 'Doji' candle on the weekly chart.In detail, Bitcoin's price correction this week to below $33,000 had it form a lower wick, suggesting that bulls bought the dip. A sharp retracement ensued and took BTC price to as high as $38,960 on Jan. 27. However, the bulls failed to hold the said week-to-date top for too long, resulting in another wick, but also pointing to....
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Bitcoin price is now up $6,000 from yesterday’s low in a flash. A long wick below support is now left behind, forming a Japanese candlestick formation called a dragonfly doji. With a large follow through by crypto bulls already, a daily close above $36,000 could leave a reversal pattern behind on the charts. But to […]
ETH's bullish reversal candlesticks form near a strong support confluence, raising anticipations about a sharp upside retracement ahead. Ethereum's native token, Ether (ETH), looks poised to undergo a sharp upside retracement in the coming weeks after painting a so-called "double doji" pattern, accompanied by a few bullish technical indicators.Ether strong support confluence meets dojisTo recap, a doji is a candlestick that forms when a financial instrument opens and closes around the same level on a specified timeframe, be it hourly, daily, or weekly. From a technical perspective, doji....
Crypto analyst Ali Martinez has offered an exciting bullish projection for the Bitcoin price. This analysis is even more interesting for the premier cryptocurrency after it fell to a multi-month low over the past week. Is A Return To $60,000 On The Cards For BTC Price? In a new post on the X platform, Martinez shared an interesting analysis of the Bitcoin price, explaining that the coin might be primed for a run to the upside. This is based on two bullish candlestick formations on the three-day chart. Firstly, the pundit noted that the price of BTC is forming a doji candle pattern on the....
Dogecoin price has been consolidating tightly on its short-term time frames but zooming out to the longer-term charts shows a potential reversal. In fact, a doji candlestick has formed on the weekly time frame, awaiting confirmation for a possible rally. The next weekly candle has to close above the previous doji's high before confirming the bounce off the current support levels. A long-term climb could last until the next resistance at 60 satoshis. Stochastic on the daily time frame of dogecoin price on Hitbtc is moving between 20 and 40 on its way up, indicating a possible pickup in....
The Bitcoin price looks set to enjoy a bullish reversal in January next year, having maintained a tepid price action to close out this year. This bullish outlook for the flagship crypto came as crypto analyst Tony Severino revealed a potential Doji formation, which suggested that BTC could enjoy this uptrend in the new year. Related Reading: Bitcoin ‘Head and Shoulders’ Setup Raises Fears Of $80,000 Price Drop – Details Doji Formation Could Lead To New Year Bitcoin Price Rally In an X post, Severino suggested that a Doji formation could lead to a Bitcoin price rally in the first two months....