Thursday, March 23, 2023
My-StockMarket
No Result
View All Result
  • Markets
  • Reviews
  • Cryptocurrency
  • Contacts
SUBSCRIBE
  • Markets
  • Reviews
  • Cryptocurrency
  • Contacts
No Result
View All Result
My-StockMarket
No Result
View All Result

Bitcoin priced chart analysis: directional breakout looms

by Armando Henderson
October 7, 2020
in Cryptocurrency
0

Bitcoin suffered a volatile start to the brand new trading month. Bearish info surrounding the crypto exchange BitMEX as well as President Trump contracting Covid 19 weighed very much on the cryptocurrency market.

Bitcoin price chart analysis demonstrates that a breakout from $10,000 to $10,900 is needed to activate a significant directional.

Bitcoin medium-term cost trend Bitcoin suffered yet another specialized setback previous week, as recent negative information caused a sharp reversal coming from the $10,900 degree.

Prior to the pullback, implied volatility towards Bitcoin is actually at its lowest levels in over eighteen months.

Bitcoin price complex analysis shows that the cryptocurrency is actually performing within a triangle pattern.

Bitcoin price chart analysis

The day time frame shows that the triangle is situated between the $10,900 as well as $10,280 complex level.

A breakout in the triangle pattern is expected to prompt the other major directional move at the BTC/USD pair.

Traders should note that the $11,100, $11,400 and $11,700 levels are the principle upside opposition zones, although the $10,000, $9,800, and also $9,600 areas provide the foremost technical support.

Saudi vs Russia oil priced war

Trade Now
Bitcoin short term cost pattern Bitcoin cost complex analysis shows that short-term bulls stay in control when the fee trades above $10,550.

The four-hour time frame highlights that a bearish head-and-shoulders pattern remains valid even though the cost trades beneath the $11,200 level.

Bitcoin price chart analysis

As per the dimensions of the head-and-shoulders pattern, the BTC/USD pair could are towards the $9,000 area.

Look out for the downside to accelerate if the price moves under neckline support, around the $9,900 degree.

It is noteworthy that a pause above $11,200 will likely start a significant counter-rally.

Bitcoin technical summary Bitcoin technical analysis highlights that a breakout from a big triangle pattern should encourage the next major directional action.

Related Posts

bitcoin-golden-coin-with-digital-circuit-lines-background | My-StockMarket
Cryptocurrency

Dogecoin [DOGE] and also the probability of pattern collapse coming its action

August 22, 2022
Doge coin Quote Spikes By 13%; Right here’s Why
Cryptocurrency

Doge coin Quote Spikes By 13%; Right here’s Why

July 20, 2022
Hype Surrounding Ethereum Merge Pushes Price Up 40%. What Comes Next, According to Experts
Cryptocurrency

Hype Surrounding Ethereum Merge Pushes Price Up 40%. What Comes Next, According to Experts

July 20, 2022
Dogecoin Transactions Are Surging as Crypto Market Recovers
Cryptocurrency

Dogecoin Transactions Are Surging as Crypto Market Recovers

July 19, 2022
Bitcoin (BTC) spiked to one-week highs on July 17 amidst cautions that traders ought to not rely on current BTC cost activity.
Cryptocurrency

Bitcoin (BTC) spiked to one-week highs on July 17 amidst cautions that traders ought to not rely on current BTC cost activity.

July 19, 2022
Why is crypto climbing today after record United States CPI inflation information?
Cryptocurrency

Why is crypto climbing today after record United States CPI inflation information?

July 15, 2022
Next Post
Bitcoin price chart analysis

Bitcoin price chart analysis

  • About
  • Advertise
  • Privacy & Policy
  • Contact

DISCLAIMER
This demo site is only for demonstration purposes to JNews WordPress theme.
© 2018 JNews. All right go to their respective owners

No Result
View All Result
  • Reviews
  • How To
  • Apps
  • Devices
  • Games

© 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.