cryptd.in

Alternatívna sieť LinkedIn pre talenty podporujúce kryptografiu

Is Bitcoin Price Returning To $74,000? Analyst Identifies Pattern That Suggests So

-

podľa

cryptd.in
na stránke

The Bitcoin price had a rollercoaster journey over the past week, falling to its lowest level in six months on Wednesday, April 9. The flagship cryptocurrency showed some resilience, recovering above the $80,000 level after United States President Donald Trump paused trade tariffs on all countries except China.

BTC seems to be starting the weekend on a strong foot, returning to above $83,000 in the late hours of Friday. However, the price of BTC appears to be enjoying only a temporary relief, as a prominent crypto analyst has identified a pattern that could decide the coin’s trajectory over the next few weeks. 

BTC At Risk Of Another Correction Due To Double Top Pattern

In an April 11 post on the X platform, crypto analyst Ali Martinez shared an interesting outlook on the price of Bitcoin following its recent recovery rally. According to the online pundit, this latest surge could be a precursor to another Bitcoin price correction to around the $74,000 level.

This bearish prediction is based on the potential formation of the “double top” pattern on the BTC hourly chart. The Double Top pattern is a technical analysis formation that looks like the letter “M”, consisting of two consecutive price tops.

The double top pattern is typically a rare appearance on most charts, indicating that investors are looking to book their profits from an extended bullish trend. Hence, the “M” pattern can be a strong signal of trader exhaustion and bearish reversal.

Bitcoin price

Interestingly, the above chart shows that the Bitcoin price just completed a “double bottom” pattern — the opposite iteration of the Double Top — on the hourly timeframe. The double top saw the premier cryptocurrency fall from above $83,000 to around $74,000 in the space of two days.

With the price of BTC seemingly topping out around the $84,000 mark, a potential “M’ pattern appears to be forming on the hourly chart. If the Bitcoin price fails to break the resistance around the $84,000, the market leader could be gearing for another price breakdown.

It is worth watching out for the support cushion around the $78,000 level, where the BTC price last bounced back to above $83,000. However, a confirmed close below this support region could imply a deeper correction toward $74,000 — a nearly 15% drop from the current price point.

Bitcoin Price At A Glance

As of this writing, the price of Bitcoin stands at around $83,800, reflecting an over 5% price jump in the past 24 hours.

Bitcoin price

Komentáre

Pridaj komentár

Vaša e-mailová adresa nebude zverejnená. Vyžadované polia sú označené *

Najnovšie kanály

Obľúbené kategórie

sk_SK Slovenčina
sk_SK Slovenčina en_US English ro_RO Română et Eesti ko_KR 한국어 ja 日本語 ru_RU Русский de_DE Deutsch es_ES Español zh_CN 简体中文 fr_FR Français zh_TW 繁體中文 pt_PT Português it_IT Italiano pl_PL Polski tr_TR Türkçe nl_NL Nederlands id_ID Bahasa Indonesia el Ελληνικά uk Українська bg_BG Български cs_CZ Čeština fi Suomi hu_HU Magyar lv Latviešu valoda lt_LT Lietuvių kalba nb_NO Norsk bokmål sl_SI Slovenščina sv_SE Svenska

Vyhľadávanie na webovej lokalite

Populárne príbehy

Značky

#AlexeyPertsev (1) #BidenCryptoBan (1) #BidenElection (1) #BinanceVsCoinbase (1) #Bitcoin (370) #BitcoinETF (3) #BitcoinFundamentals (1) #BitcoinHandling (1) #BitcoinPrice (5) #BitcoinPriceLevel (1) #BitcoinPump (1) #BitcoinReserve (1) #BitcoinSurge (1) #BitcoinTop (1) #Bitfinex (1) #BVšetko, čo potrebujete (1) #BracebridgeCapital (1) #BRC20Tokeny (1) #BTCakvizícia (1) #BullishPrediction (1) #BullishSentiment (1) #ChineseMining (1) #CPIPreview (1) #CryptoAsset (2) #CryptoBattle (1) #CryptoBoom (1) #CryptoExpert (1) #CryptoInsights (1) #CryptoMania (1) #CryptoMarket (4) #CryptoPrediction (1) #CryptoPredictions (1) #CryptoRegulation (2) #CryptoTakeoff (1) #CryptoTiming (1) #CryptoTips (1) #CryptoTreasury (1) #CryptoUncertainty (1) #DerivativeJump (1) #Dogecoin (64) #DogecoinGains (1) #DogecoinVolume (1) 1TP5DutchCourt (2) #ECommerce (1) #ElSalvadorBitcoin (1) #Ethereum (62) #EthereumPain (1) #EthereumPrice (1) #ExpertOpinion (1) #FedRateCut (1) #FiatCurrency (1) #Finančný vplyv (1) #FinancieSúkromie (1) #FirmShutdown (1) #FrozenAccounts (1) #IllicitFunds (1) #InflationData (1) #Investície (1) #InvestmentLoss (1) #JapaneseFirm (1) #LegalAction (1) #Právny vplyv (1) #Legislatíva (1) #LightningNetwork (1) #M Analýza trhu (3) #M Monitorovanie trhu (1) #M Predpoveď trhu (1) #M Predpovede trhu (1) #M trhová projekcia (1) #M MarketSupport (1) #MVolatilita trhu (1) #M manželstvo (1) #MemeCoin (5) #MemeCoins (2) #MinerProfitability (1) #M Pranie peňazí (2) #MtGox (3) #NorthKoreaCrypto (1) #NovogratzPredpoveď (1) #PriceMilestone (1) #PcenaPredpoveď (2) #Prieskumná otázka (1) #PriceSurge (1) #PrisonSentence (1) #QuantAnalysis (1) #Regulačný tlak (1) #SECAntiCrypto (1) #ShibaInu (5) #SocialBuzz (1) #Technická analýza (1) #Toncoin (3) #TornadoCash (3) #TornadoCashDev (1) #TornadoCashDeveloper (1) #UKCrypto (1) #UpsidePotential (1) #USCongress (1) #WyomingLand (1) #XR Cena (1) #XRPupswing (1)

Užitočné odkazy

Odkazy, ktoré som našiel užitočné a chcel som sa o ne podeliť.