Used by traders to identify price reversals, a bearish head and shoulder has three peaks, with the middle one rising higher than the others. In an instance like this, BTC could reverse an upward trend.depicted a bearish-to-bullish trend. This was because the middle peak dropped incredibly lower than the sides. This signaled a possible end to the downward trend.
Before his latest observation, the analyst had pointed out a historical impulse, correction, and blowoff trend. There, he noted that it was BTC’s current situation. On 20 May, he told his 71,900 followers that Bitcoin could be in line for a large degree of bullish movement, as described by the Elliotwave impulse.Wave 3 – Impulse , momentum
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Coin Coin Latest News, Coin Coin Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin’s price drop affects 2.7 million BTC in this mannerBitcoin's rollercoaster ride continues as the recent price drop pushes more BTC into a loss—however, signals of undervaluation hint at a potential price surge in the future.
Source: CryptoAmb - 🏆 22. / 68 Read more »
BTC whales take a backseat but investors can stay calm because…Bitcoin whales step back as regular transactions surge to record heights, defying market fluctuations and showcasing the strength of retail participation.
Source: CryptoAmb - 🏆 22. / 68 Read more »
Does another Bitcoin crash seem likely?Multiple analyses suggested that the chances of a further decline in BTC’s price were high. Market sentiment around BTC was also bearish.
Source: CryptoAmb - 🏆 22. / 68 Read more »
Bitcoin May 26 daily chart alert - Downtrend is the bears' friend
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »
Bitcoin to launch its first USD-pegged stablecoin, details hereStably announced the launch of the world's first U.S. Dollar-backed stablecoin on the Bitcoin network.
Source: CryptoAmb - 🏆 22. / 68 Read more »
A banking crisis will have these effects on Bitcoin, Ethereum investorsWill crypto-markets and exchanges garner more attention as faith in U.S banking systems and institutions starts to wane?
Source: CryptoAmb - 🏆 22. / 68 Read more »