Bitcoin Price Consolidates Gains — Is a Breakout Brewing in the Range?
Bitcoin price started a fresh increase above the $108,000 zone. BTC is now consolidating gains and might aim for a move above $110,750 Bitcoin started a fresh upward move above the $108,000 zone. The price is trading above $108,000 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with support at $108,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum if it clears the $110,750 resistance. Bitcoin Price Consolidates Gains Bitcoin price found support near the $107,400 zone and recently started an....
Related News
Sometimes, when it comes to intraday trading, things just go right. We can have weeks of small gains or losses, and then all of a sudden a string of decent scale wins come along. This is why patience (and a consistent strategy) is so important. This week has been a great example of the latter situation. Each day we have seen our range and breakout strategy signal an entry, and then seen the bitcoin price validate that entry with a target hit. Yesterday was no different - and as we head into a fresh session on Friday in Europe, we are looking to end the week on a high. So, with this said,....
Bitcoin has produced a range-bound movement recently, with prices oscillating between $83,000 and 86,000. Interestingly, popular crypto analyst Burak Kesmeci has identified the important price levels for any short-term action. Related Reading: Bitcoin Consolidates In Tight Range – Breakout Or Breakdown Next? Support At 82,800, Resistance At 92,000 – But Where Is Bitcoin Headed? In […]
Earlier today, in the first of our twice-daily Bitcoin price watch pieces, we documented the breakout above $400 we saw last night. Traditionally, strong psychological levels (such $100, $200, $500, $1,000 etc.) will initiate the kind of volatility we saw on the break, and when they are broken to the upside, will often retest as support. Conversely, but similarly, when a key level breaks to the downside, it will often retest as resistance. In this instance, however, we've not seen this retest. Price has stayed buoyant despite the inevitable run of profit taking, and this suggests there is....
SOL has been forming a Bull Pennant following its 14,200% year-to-date price rally. Solana (SOL) price technicals suggest SOL can hit $275 in the coming sessions.The upside outlook for the world's sixth-largest cryptocurrency by market capitalization comes as it consolidates inside a range that appears like a Bull Pennant. In detail, Bull Pennants are bullish continuation indicators that form as the price consolidates inside a Symmetrical Triangle-like structure following a strong move upside.The consolidation trend accompanies declining volumes, reflecting on the trend's underlying....
The latest BTC price jump above $65,000 has all the signs of a classic bullish breakout. Bitcoin (BTC) has the potential to rise toward $75,000 by the end of this year as it breaks out of a classic bullish pattern and picks additional upside cues from its richest investors' recent accumulation spree.Bitcoin Bull Pennant breakout in playBTC rallied over by 6% in the past 24 hours to reach a three-week high just shy of $66,500. In doing so, the cryptocurrency broke out of a consolidation range consisting of two diverging trendlines, a setup reminiscent of a Bull Pennant.Bull Pennants are....