Tag: Pattern

TRX/USD Bear Breakout Pattern, Liquidation at 1.5 Cents

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Latest Tron News The Tron network describes itself as a protocol that is laying down the infrastructure for a truly decentralized internet. Like other smart contracting and dApp development platforms, it relies on blockchain. What’s more, the team behind this network is keen on expanding and on-boarding as many developers as possible. Read: Tom Lee: Crypto Is Bent Not Broken, Plenty of Room to Grow For those who don’t believe, #TRON has continuously kept their promise on deliverance. –#DEX rollout was successful. – Processing over 1.9 million tx’s in a…

Bitcoin Price Pattern Suggests a Bounce May Be Coming

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If past events are a guide, bitcoin (BTC) could in for a recovery rally in the short-term. Following Wednesday’s 10 percent slump, the leading cryptocurrency printed an intraday low of $5,188 on Thursday, before closing largely unchanged on the day (as per UTC) at $5,580. The price swing formed what’s termed a “long-tailed doji” candle on the daily chart, which is usually taken to represent indecision in the marketplace. The fact that the candle appeared at the bottom of the recent sell-off indicates the indecision is predominantly among the sellers and…

ADA/USD and IOT/USD Bull Breakout Pattern

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As EOS bull momentum slow down, ADA/USD and IOT/USD are trading within a bull break out pattern and it is likely that prices will race towards immediate targets at 9.5 cents and 90 cents. Should there be higher highs today in these two pairs as EOS/USD and XLM/USD consolidate then it points to an existing undervaluation. In that case traders should buy EOS, Litecoin and Stellar Lumens with expectations of higher highs. Let’s have a look at these charts: EOS/USD Price Analysis We are thrilled to announce that our Cross-Blockchain…

Bitcoin Price Heading into ‘Classic Breakout Pattern’: Analyst

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The bitcoin price has been remarkably stagnant in recent weeks, with the flagship cryptocurrency’s volatility declining to a 17-month low on Oct. 8. Analysts including Bloomberg Intelligence commodity strategist Mike McGlone have said that this could be an indication the cryptocurrency market is beginning to establish itself into a maturing asset class. But while declining volatility may make the case that bitcoin is a store of value a bit more plausible, cryptocurrency investors, particularly those who placed their bets when the market was near an all-time high, would prefer that…

Bitcoin (BTC) Price Watch: Reversal Pattern Confirmation on SEC Order

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Bitcoin Price Key Highlights Bitcoin price looks ready to confirm its double bottom reversal formation as it tests the neckline. A break higher could lead to a rally that’s the same height as the chart formation, which spans $6,100 to $6,650. Technical indicators, however, are reflecting bullish exhaustion. Bitcoin price could be due for an uptrend as it tests the neckline of the short-term double bottom formation. Technical Indicators Signals The 100 SMA recently crossed below the longer-term 200 SMA to signal that the path of least resistance is to…

Bitcoin (BTC) Price Watch: Bullish Reversal Pattern Forming?

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Bitcoin Price Key Highlights Bitcoin price appears to be gaining some traction off its recent bounce, possibly forming another double bottom. This is a classic reversal formation, so a rally could be due once price breaks past the $7,400 neckline. Technical indicators, however, are suggesting that the selloff might still resume. Bitcoin price might be ready to form another double bottom pattern, but technical indicators suggest that bearish pressure is still here. Technical Indicators Signals The 100 SMA is still above the longer-term 200 SMA for now but it looks…

Bitcoin Price Watch: BTC/USD Forming Breakout Pattern Above $6,600

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Key Points Bitcoin price is trading in a contracting range with support above the $6,600 level against the US Dollar. There is a major contracting triangle in place with resistance around $6,740 level on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to make the next move either above $6,750 or below $6,600 in the near term. Bitcoin price is trading in a positive zone above $6,610 against the US Dollar. BTC/USD is preparing for the next move either above $6,750 or below…

Rally Ahead? Bitcoin’s Price May Be Charting a Previous Bull Pattern

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History often has a way of repeating itself. The current price pattern in the bitcoin market is eerily similar to the one observed in the run-up to a major rally that occurred on April 12. To start with, bitcoin charted a long-tailed candle on Aug. 14, similar to the one seen on Apr. 1, signaling the sell-off from the July 24 high of $8,507 has likely run its course. Further, the leading cryptocurrency has spent the last seven days trading in a sideways manner around $6,400. Back in April, the cryptocurrency traded…

Bitcoin (BTC) Price Watch: Could This Be a Reversal Pattern?

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Bitcoin Price Key Highlights Bitcoin price appears to be forming an inverse head and shoulders pattern on its 1-hour time frame. This is considered a classic reversal signal and if confirmed, price could pull up from its earlier drop. Technical indicators are also reflecting the presence of bullish momentum. Bitcoin price might be forming an inverse head and shoulders pattern as it moves to test the neckline soon. Technical Indicators Signals The 100 SMA is crossing above the longer-term 200 SMA to indicate that the path of least resistance is…

Bitcoin Price Intraday Analysis: BTCUSD Bearish Pattern Continues

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It is not a new day for Bitcoin speculators, for the prevailing bearish bias in the market has been intensified further following a strong selling round. The day started with BTC/USD sticking to its chop-mood before invalidating a significant support level at 7814-fiat yesterday. We had discussed two outcomes in our previous analysis following the downward breakout: either, there will a strong pullback to reestablish support near 7814-fiat, or a bearish continuation towards the next downside target at 7459-fiat, coinciding with our 38.2% Fibonacci retracement level. As one can notice…