Bitcoin Sell-Off Triggers Classic Bearish Reversal Pattern; $20K Next?

Bitcoin Sell-Off Triggers Classic Bearish Reversal Pattern; $20K Next?

An overnight sell-off in the Bitcoin market Monday brought its prices down from an intraday high of $34,888 to as low as $31,435.

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Bitcoin Price Technical Analysis for 07/26/2016 – Reversal Formation Seen!

Bitcoin price has formed a head and shoulders pattern on its short-term time frame and is currently testing the neckline. Bitcoin Price Key Highlights. Bitcoin price has recently broken down from a long-term consolidation pattern, signaling an increase in selling pressure. A head and shoulders pattern can be seen on the 1-hour time frame and this is a classic selloff signal. Price is still above the neckline of the reversal formation, though, so it’s still early to confirm if further declines are in order. Technical Indicators Signals. The 100 SMA crossed below the 200 SMA recently, which....

Evening Star: Reversal Pattern Could Sunset Bitcoin Price Action For Weeks

Bitcoin has now retraced as much as $11,000 and 27% from its 2021 peak, and while the current high might not be the top for this bull run, it could send price action headed downwards for a few weeks before the uptrend resumes. Bulls have only days to prevent a bearish evening star reversal pattern […]

Ethereum Classic Price Technical Analysis – ETC Remains A Sell

Ethereum classic price remained under a bearish pressure versus the Bitcoin, and it looks like the ETC sellers may attempt to form a low soon. Key Highlights. Ethereum classic price remained under a major resistance versus Bitcoin, and may trade further lower. Yesterday’s highlighted bearish trend line on the hourly chart of ETC/BTC (data feed via Simplefx) acted as a perfect barrier and prevented an upside move. The price may soon test the last swing low of 0.00182BTC and may even break it. Ethereum Classic Price Upside Hurdle. Ethereum classic price remained under the resistance area as....

Bitcoin Analyst Warns Price Could Dip Below $20,000; Here’s Why

The cost of one Bitcoin could end up plunging below its 2017’s record high of $20,000. That is, according to a pseudonymous analyst, who determined the cryptocurrency’s bearish outlook based on a classic head and shoulder pattern. As of early Wednesday, BTC/USD had painted four out of five key components that confirm the said reversal indicator. They included three peaks with the middle one larger than the others, supported by a so-called neckline. “If we […]

Bitcoin Price H&S; Downside On?

It’s been a strange few days in the bitcoin price space. A number of fundamental developments seem to have reversed the negative general sentiment from the beginning of last week, and the bitcoin price looks to reflect this reversal. However, a look at the charts from a technical perspective suggests there could be some medium term weakness. We’ve detailed head and shoulders pattern before, but for our readers that haven’t come across these patterns in our analysis yet, they are a pretty common classical technical charting pattern used in more traditional financial asset trading. They come....