Bitcoin Price Completes Head And Shoulder Formation, Analyst Predicts Crash T...
Crypto analyst Melika Trader has warned about a bearish pattern that could be forming for the Bitcoin price. Based on this, the analyst predicts that the largest crypto by market cap could crash to as low as $78,000. Bitcoin Price Forming Head And Shoulders Pattern In a TradingView post, Melika Trader revealed that the Bitcoin price is forming a complex head-and-shoulders pattern. He remarked that the left shoulder and double head had already formed while the right shoulder is currently forming, with BTC at risk of suffering a massive crash once this happens. Related Reading: Analyst’s....
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Recent XRP price action has sparked a new prediction from a crypto analyst, as a potential Head and Shoulders pattern emerges on the chart. The analyst warns that this technical formation could trigger a significant price correction for XRP, describing this downturn as the worst-case scenario. Analyst Predicts XRP Price Crash To $1.15 The ‘Charting Guy,’ a pseudonymous crypto analyst on X (formerly Twitter), has unveiled a potential Head and Shoulder pattern formation on the XRP price chart. The analyst has shared insights into the implications of this technical pattern, projecting a....
Tony Severino, a prominent crypto analyst, has shared a new Bitcoin price forecast, suggesting that the pioneer cryptocurrency is on the verge of another major correction. The analyst suggested that the formation of a Lower Time Frame (LTF) Head and Shoulders pattern on the Bitcoin price chart is a potential confirmation of a crash to mid-$80,000. Bitcoin Price Projected To Crash To $83,600 The market’s recent downturn has negatively impacted Bitcoin’s value, prompting less-than-favorable predictions from top analysts. Severino posted on X (formerly Twitter) on March 6 that Bitcoin....
The Ethereum price is showing signs of a breakout, as an analyst has identified the formation of an inverse head and shoulder pattern on its 6-month long-term price chart. This bullish formation has fueled predictions that Ethereum could rally to $12,000 soon, marking a new all-time high for the second-largest cryptocurrency by market capitalization. Ethereum Price Targets $12 With New Chart Pattern In a Tuesday X (formerly Twitter) post, crypto analyst Tony Severino released an Ethereum price chart illustrating an inverse head and shoulder, a technical analysis indicator signaling a....
XRP is currently showing signs of vulnerability as its recent price action is becoming increasingly bearish. After attempting to reclaim upside momentum above $ 2.60 in May, the cryptocurrency has struggled to maintain this run, and its price action over the past few days has brought it close to losing the $2.10 price level. Notably, the price action has resulted in the formation of a head and shoulders pattern on the daily candlestick chart. This might be the final straw that finally sends the XRP price plummeting below $2. Related Reading: Bitcoin Scarcity May Spark Explosive Surge, Bank....
Nonetheless, the long-term technical setup and strengthening protocol metrics indicate bullish continuation. The prospects of Ren (REN) continuing its ongoing rebound to fresh highs appear slim as a classic bearish reversal pattern begins to emerge.Dubbed head and shoulders, the setup appears when the price forms three peaks, with the middle peak (called the head) longer than the other two peaks described as the left and right shoulders. The bottoms of these peaks are supported by a neckline.An illustration of the head and shoulders pattern. Source: Corporate Finance InstituteThe pattern....