Bitcoin Just Broke a Multi-Week Descending Triangle; Analysts Target $15k

Bitcoin Just Broke a Multi-Week Descending Triangle; Analysts Target $15k
ôîòî ïîêàçàíî ñ : bitcoinist.com

2020-9-2 21:00

Bitcoin is beginning to show some intense signs of strength after a prolonged period of consolidation within the mid-to-upper $11,000 region This latest push higher has not done a ton to invalidate the weakness that the cryptocurrency was previously experiencing, as it has yet to push BTC past its key $12,000 resistance level Analysts are noting that where it trends next may depend largely on whether or not buyers can shatter the selling pressure that sits at this level This move was able to push BTC beyond the upper boundary of an ascending triangle, which could ultimately provide it with some serious near-term momentum

Bitcoin has been flashing some intense signs of strength throughout the past several hours, with its prolonged consolidation bout finally drawing to a close.

This momentum has yet to push the crypto above $12,000 however, and it remains in a somewhat precarious situation until this level is broken above and flipped to support.

One analyst is now pointing to a few factors that all suggest upside is imminent, including its ability to consolidate above $11,600 and the strength seen by Ethereum today.

These factors also come as Bitcoin breaks above the upper boundary of a descending triangle that analysts were watching. The break above this level may allow it to surge significantly in the near-term.

Bitcoin Breaks Out of Key Technical Formation as Analysts Target $15,000

At the time of writing, Bitcoin is trading up just over 2% at its current price of $11,900. This is around the price at which it has been trading throughout the past few hours.

It is important to note that today’s push towards $12,000 came about shortly after the cryptocurrency broke out of a bullish descending triangle pattern.

This has led one analyst to target $15,000.

“Break out of wedge confirmed. Send it straight to 15K,” he said while referencing a potential path forward that he outlined several days ago.

Image Courtesy of Kaleo. Chart via TradingView. BTC’s Technical Strength Bolstered by Latest Push Higher: Analyst 

Another analyst also noted that this latest surge has bolstered Bitcoin’s technical outlook.

He believes that continued consolidation above $11,600 will help guide BTC significantly higher.

“Reached the $12,000 area that I’ve pointed since the low. Would like to see consolidation above $11,600 here. If that happens, we’ll most likely see a rally towards $12,400 and new highs. ETH already painting the way.”

Image Courtesy of Crypto Michael. Chart via TradingView.

How the market trends next will likely depend solely on how strong the resistance at $12,000 currently is.

Featured image from Unsplash. Charts from TradingView. origin »

Bitcoin price in Telegram @btc_price_every_hour

Bitcoin (BTC) íà Currencies.ru

$ 59730.98 (-0.69%)
Îáúåì 24H $39.002b
Èçìåíåèÿ 24h: 2.47 %, 7d: -1.90 %
Cåãîäíÿ L: $59730.98 - H: $60766.28
Êàïèòàëèçàöèÿ $1197.656b Rank 1
Öåíà â ÷àñ íîâîñòè $ 12007.33 (397.45%)

push analysts bitcoin key yet experiencing previously

Èñòî÷íèê: bitcoinist.com

push analysts → Ðåçóëüòàòîâ: 78


Ôîòî:

Analyst: Bitcoin Needs to Push Past $9,600 to Avoid a Brutal Decline

Bitcoin now appears to be entering another consolidation phase around $9,300 Its buyers have been unable to surmount the resistance that exists around this price level Each attempt to break above it has been met with an influx of selling pressure that forces it lower As for what may come next, analysts are noting that it is imperative that buyers step up and force the benchmark crypto higher if they are to catalyze any further […]

2020-7-8 21:00


Ôîòî:

Bitcoin Flips Bearish as Dreaded “Death Cross” Returns

Bitcoin’s price is flashing some signs of weakness again as it nears it crucial $9,000 support The multiple tests of this level do seem to indicate that it is growing weaker, and it may only be a matter of time before sellers forcefully push BTC beneath it This comes as the be3nchmark cryptocurrency grows bearish from a technical perspective Analysts are noting that it recently formed a widely dreaded “death cross’ on its four-hour chart, […]

2020-6-30 21:00


Ôîòî:

Holding Above This Key Level Could Send Bitcoin to $14,000; Will This Happen?

Bitcoin’s consolidation phase has muddied the clarity that many investors had regarding the strength of its uptrend Because the resistance that has been laced just above BTC’s current price has proven to be insurmountable, it remains unclear as to what could push the crypto past this level Analysts still believe that the crypto’s outlook could be extremely bright In order for it to validate its potential strength, however, it is imperative that buyers push it […]

2020-6-12 02:00


Ôîòî:

Ethereum is Coiling Up to Make a Big Movement; Here’s Why it May Favor Bears

Ethereum, like Bitcoin, has been caught within a long-held bout of sideways trading over the past week This consolidation has made it increasingly unclear as to which direction it will trend next It has largely come about as a result of the lackluster price action seen by Bitcoin in recent times Analysts do believe that ETH could be poised to see some notable downside if it is unable to push higher in the days and […]

2020-6-11 23:00


Ôîòî:

Bitcoin’s Funding is Flashing a Warning Sign After Rejection at Key Resistance

Bitcoin faced a grim rejection within the upper-$9,000 region yesterday that caused it to erase most of the gains that came about as its latest push higher The subsequent decline that BTC faced has led it into a key support region, which some analysts believe will lead it to see further near-term upside It is important to note that the cryptocurrency’s funding rates, however, seem to suggest that the tides are turning back into seller’s […]

2020-5-30 02:00


Ôîòî:

Analysts are Cautious of the Crypto Market’s Latest Push Higher; Factors to Consider

The aggregated crypto market saw a sharp rise today fueled by widespread liquidations of short positions This movement came about following an extended period of sideways trading within the upper-$8,000 region Analysts are cautious about the market-wide trend shift, as some are noting that there are a few factors that signal it will be followed by a sharp retrace Bitcoin led the entire crypto market to rally higher overnight, with a continued defense of $8,800 […]

2020-5-28 02:00


Ôîòî:

Investors Need to “Be Careful” About Bitcoin’s Uptrend Because of These Factors

Bitcoin attempted to push above $10,000 yesterday evening but was once again met with a significant amount of selling pressure that subsequently led it lower The benchmark cryptocurrency is now once again caught within a bout of sideways trading within the mid-$9,000 region Analysts are warning investors against getting too excited about this latest uptrend, as there are a few factors that suggest it could soon see further downside in the days and weeks ahead […]

2020-5-19 23:00


Ôîòî:

Bitcoin May Be Poised to Push to $11,000 as Bullish Confluence Grows

Bitcoin has entered what appears to be a consolidation phase as its bulls and bears reach an impasse This has led the benchmark crypto to trade sideways within the upper-$8,000 region for an extended period of time Analysts are noting that there are some bullish factors that seem to suggest the recent rally is far from over, and that BTC could soon make a bid at $11,000 Bitcoin has seen some highly bullish price action […]

2020-5-5 21:00


Ôîòî:

Bitcoin Could Soon Break its 200-Day MA, Triggering Next Uptrend

Bitcoin has been able to once again push into the upper-$7,000 region after facing multiple rejections here throughout the past few days The cryptocurrency is pushing up against its 200-day moving average – a key trend-determining level A break above this 200-day MA could spark a major upside movement, with some analysts thinking this is imminent After facing multiple harsh rejections within the upper-$7,000 region throughout the past couple of days, Bitcoin has been able […]

2020-4-28 21:00


Bitcoin On-Chain Momentum Bullish Again, Traders May Push Prices Higher

While some analysts are still expecting Bitcoin (BTC) to fall further, it appears that fundamentals and on-chain metrics are starting to imply bulls have the upper hand. Related Reading: Bitcoin CME Futures Gaps Are Filled With 95% Certainty, But Trading Them Is Risky Bitcoin Preparing to Head Higher Ahead of Halving Adaptive Capital partner Willy Woo.

2019-12-8 01:29


Bitcoin: After Breaking Above $9k, Analysts Expect Several Years of Positive Price Action

Several days ago, Bitcoin incurred a massive influx of buying pressure that sent it surging past its previous resistance levels that existed around $9,000. In the time since, however, BTC’s bulls have not been able to push it towards the ever-so-important $10k level, which may signal that it will face increased selling pressure in the.

2019-6-19 03:00


As the Crypto Markets Enter a Slumber, Bitcoin May be Gearing up For a Surge Back To 5,400

Despite witnessing some exciting price action over the past several weeks, the crypto markets are currently taking a slight breather as Bitcoin tepidly advances into the $5,200 region. Although the recent upwards momentum appears to have fizzled out, analysts are now expecting Bitcoin to make another upwards push back up towards its strong resistance level.

2019-4-18 03:00


2019 Dow Recovery ‘Nothing More Than a Bear Market Rally’

The Dow Jones Industrial Average and wider US stock market have made extraordinary recoveries in 2019, but several equities analysts warn that stocks remain firmly in a bear market. Stock Market Recoveries Following Sell-Offs Are Head Fakes A former adviser to the president of the Dallas Federal Reserve, Danielle DiMartino Booth, wrote in a Bloomberg op-ed that the Dow’s push past 26,000 from its late December low is just a “head fake.

2019-2-26 01:17


Bitcoin: BTC Stabilizes After Sinking Below $3,500, Analysts Claim it is Likely to Drop Further

Following a long period of sideways trading, Bitcoin (BTC) has now broken down below its previously established support level around $3,500. Today’s drop appears to have allowed BTC to establish support in the $3,400 region, but further volatility could easily push it down towards $3,000, where the cryptocurrency has significant buying pressure.

2019-1-29 23:00


äàëüøå åùå 29 íîâîñòåé →

Ïàðòíåðû Currencies.ru



Ðåêëàìà íà Currencies.ru

Ñàìîå ñâåæåå íà Currencies.ru