Why This Bitcoin Price Pattern Spells Short Term Pain For BTC
Bitcoin has held critical support after a move to the downside on Friday and trades at $37,539. A good old weekend pump has brought it back from the mid-zone of the $30,000 range and now it might make a push towards $38,000. In the short term, reclaiming the $40,000 area seems like the most bullish […]
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Here's what we're focusing on for the Thursday morning session out of Europe in the bitcoin price. Yesterday, as a result of overnight trading on Tuesday, a double top gave us a medium term bearish bias in the bitcoin price. The pattern completed mid afternoon, and we were able to enter short according to the pattern’s traditional rules on a neck breaking. Post-entry, price initially moved in the direction we’d expected, before correcting a little to the upside and consolidating somewhat throughout Wednesday evening. This is not unexpected, and the bearish trade we entered on the pattern....
Dash Price Key Highlights. Dash price looks like completed a 5-waves up pattern and might head lower in the near term. There is a Triple top pattern formed (as highlighted yesterday), which could push the price lower. Besides, there is a bullish trend line formed, which must be cleared for more losses in the near term. Dash price might have created a short-term top, as there is a wave sequence completed on the hourly chart. 5-Waves Pattern. As mentioned in yesterday's post, we are waiting for a break in the Dash price. There are a couple of important things formed on the hourly chart,....
Key Highlights. Dogecoin price made one more attempt to go pass 60.0 Satoshis, but failed as there was a lack of momentum. A crucial double top pattern might be forming, which can push Dogecoin prices lower in the short term. Buyers managed to take advantage recently and pushed prices of Doegoin higher, but it looks like there is a topping pattern in making that could ignite a short-term correction. Double Top Pattern. There was a sharp reaction noted around 50.0-50.6 Satoshis, which took the price back higher. An important level of 60.0 Satoshis was almost tested where Dogecoin failed....
The market’s hostile environment is currently hindering altcoins gaining in the short term. With the broader market down by 2%, LDO losses mounted up to 18% since last week, continuing to end this week with pain for investors in the short term. This led to shaky investor confidence as fear, uncertainty, and doubt plagued the […]
Ethereum Price Key Highlights. Ethereum price has been trending higher on the short-term time frames, as the rising trend line support is still holding. Price hit a major area of interest visible on the longer-term charts, triggering a pullback to the trend line. Ethereum price could be in for a short-term downtrend if it breaks below the trend line and completes a head and shoulders pattern. Watch 0.00300 Closely. The neckline of the head and shoulders reversal pattern lines up with the trend line support around the 0.00300 level, with a downside break likely to confirm that further....