Celsius Network persistently increased Ethereum deposits
Bitcoin Price Signals Prominent Upward Trend with Recent Pattern FormationBitcoin Price Signals Prominent Upward Trend with Recent Pattern FormationBitcoin Price Signals Prominent Upward Trend with Recent PatBitcoin Pri
By AZC News | 2 hours ago
In an encouraging turn of events for Bitcoin enthusiasts, the premier cryptocurrency has established a bullish inverse head and shoulders pattern on its daily chart.Bitcoin Price Signals Prominent Upward Trend with Recent Pattern Formation
Bitcoin's recent price movement exhibits a classic bullish pattern, signaling a potential shift towards an uptrend. Analyst Jake Wujastyk emphasized the emergence of an inverse head and shoulders formation on the daily candle chart, coinciding with a noteworthy close above a key volume shelf. Typically regarded as a precursor to a market reversal from a downtrend to an uptrend, the inverse head and shoulders pattern reveals two lower peaks (shoulders) surrounding a deeper valley known as the head.
Completion of this pattern occurs when the price surpasses the resistance level, identified as the "neckline," aligning in this instance with the volume shelf—a level indicating substantial support or resistance due to a high volume of previously traded contracts. The recent breakthrough above the critical level at around $43,000 suggests increasing buyer control, potentially propelling Bitcoin's price higher in the short term.
Against the backdrop of these developments, the current performance of Bitcoin's price reflects a cautiously optimistic sentiment as the market grapples with the imminent expiry of 22,000 BTC options. The Maxpain point, where most options would expire worthless, rests at $42,000, slightly below the present trading level, implying a potential support region.
The options in question hold a considerable notional value of $960 million, highlighting the event's significant impact on market sentiment. Throughout this week, the cryptocurrency market has experienced a relatively subdued phase, evident in the diminishing realized volatility (RV) and implied volatility (IV) for prominent durations, signaling a period of consolidation.
Related: Bitcoin Mining's Minor Share in U.S. Power Usage
Amidst the tranquil market conditions, Bitcoin spot exchange-traded funds (ETFs) are steadily garnering incremental capital inflows, serving as a bullish indicator for the cryptocurrency. Conversely, some substantial traders, commonly referred to as "whales," have been trimming their positions, indicating a blend of profit-taking and strategic portfolio rebalancing.Bitcoin Price Signals Prominent Upward Trend with Recent Pattern Formation
By AZC News | 2 hours ago
In an encouraging turn of events for Bitcoin enthusiasts, the premier cryptocurrency has established a bullish inverse head and shoulders pattern on its daily chart.Bitcoin Price Signals Prominent Upward Trend with Recent Pattern Formation
Bitcoin's recent price movement exhibits a classic bullish pattern, signaling a potential shift towards an uptrend. Analyst Jake Wujastyk emphasized the emergence of an inverse head and shoulders formation on the daily candle chart, coinciding with a noteworthy close above a key volume shelf. Typically regarded as a precursor to a market reversal from a downtrend to an uptrend, the inverse head and shoulders pattern reveals two lower peaks (shoulders) surrounding a deeper valley known as the head.
Completion of this pattern occurs when the price surpasses the resistance level, identified as the "neckline," aligning in this instance with the volume shelf—a level indicating substantial support or resistance due to a high volume of previously traded contracts. The recent breakthrough above the critical level at around $43,000 suggests increasing buyer control, potentially propelling Bitcoin's price higher in the short term.
Against the backdrop of these developments, the current performance of Bitcoin's price reflects a cautiously optimistic sentiment as the market grapples with the imminent expiry of 22,000 BTC options. The Maxpain point, where most options would expire worthless, rests at $42,000, slightly below the present trading level, implying a potential support region.
The options in question hold a considerable notional value of $960 million, highlighting the event's significant impact on market sentiment. Throughout this week, the cryptocurrency market has experienced a relatively subdued phase, evident in the diminishing realized volatility (RV) and implied volatility (IV) for prominent durations, signaling a period of consolidation.
Related: Bitcoin Mining's Minor Share in U.S. Power Usage
Amidst the tranquil market conditions, Bitcoin spot exchange-traded funds (ETFs) are steadily garnering incremental capital inflows, serving as a bullish indicator for the cryptocurrency. Conversely, some substantial traders, commonly referred to as "whales," have been trimming their positions, indicating a blend of profit-taking and strategic portfolio rebalancing.
Disclaimer. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when Bitcoin Price Signals Prominent Upward Trend with Recent Pattern Formation
By AZC News | 2 hours ago
In an encouraging turn of events for Bitcoin enthusiasts, the premier cryptocurrency has established a bullish inverse head and shoulders pattern on its daily chart.Bitcoin Price Signals Prominent Upward Trend with Recent Pattern Formation
Bitcoin's recent price movement exhibits a classic bullish pattern, signaling a potential shift towards an uptrend. Analyst Jake Wujastyk emphasized the emergence of an inverse head and shoulders formation on the daily candle chart, coinciding with a noteworthy close above a key volume shelf. Typically regarded as a precursor to a market reversal from a downtrend to an uptrend, the inverse head and shoulders pattern reveals two lower peaks (shoulders) surrounding a deeper valley known as the head.
Completion of this pattern occurs when the price surpasses the resistance level, identified as the "neckline," aligning in this instance with the volume shelf—a level indicating substantial support or resistance due to a high volume of previously traded contracts. The recent breakthrough above the critical level at around $43,000 suggests increasing buyer control, potentially propelling Bitcoin's price higher in the short term.
Against the backdrop of these developments, the current performance of Bitcoin's price reflects a cautiously optimistic sentiment as the market grapples with the imminent expiry of 22,000 BTC options. The Maxpain point, where most options would expire worthless, rests at $42,000, slightly below the present trading level, implying a potential support region.
The options in question hold a considerable notional value of $960 million, highlighting the event's significant impact on market sentiment. Throughout this week, the cryptocurrency market has experienced a relatively subdued phase, evident in the diminishing realized volatility (RV) and implied volatility (IV) for prominent durations, signaling a period of consolidation.
Related: Bitcoin Mining's Minor Share in U.S. Power Usage
Amidst the tranquil market conditions, Bitcoin spot exchange-traded funds (ETFs) are steadily garnering incremental capital inflows, serving as a bullish indicator for the cryptocurrency. Conversely, some substantial traders, commonly referred to as "whales," have been trimming their positions, indicating a blend of profit-taking and strategic portfolio rebalancing.
Disclaimer. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when 
Disclaimer. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when Bitcoin Price Signals Prominent Upward Trend with Recent Pattern Formation
By AZC News | 2 hours ago
In an encouraging turn of events for Bitcoin enthusiasts, the premier cryptocurrency has established a bullish inverse head and shoulders pattern on its daily chart.Bitcoin Price Signals Prominent Upward Trend with Recent Pattern Formation
Bitcoin's recent price movement exhibits a classic bullish pattern, signaling a potential shift towards an uptrend. Analyst Jake Wujastyk emphasized the emergence of an inverse head and shoulders formation on the daily candle chart, coinciding with a noteworthy close above a key volume shelf. Typically regarded as a precursor to a market reversal from a downtrend to an uptrend, the inverse head and shoulders pattern reveals two lower peaks (shoulders) surrounding a deeper valley known as the head.
Completion of this pattern occurs when the price surpasses the resistance level, identified as the "neckline," aligning in this instance with the volume shelf—a level indicating substantial support or resistance due to a high volume of previously traded contracts. The recent breakthrough above the critical level at around $43,000 suggests increasing buyer control, potentially propelling Bitcoin's price higher in the short term.
Against the backdrop of these developments, the current performance of Bitcoin's price reflects a cautiously optimistic sentiment as the market grapples with the imminent expiry of 22,000 BTC options. The Maxpain point, where most options would expire worthless, rests at $42,000, slightly below the present trading level, implying a potential support region.
The options in question hold a considerable notional value of $960 million, highlighting the event's significant impact on market sentiment. Throughout this week, the cryptocurrency market has experienced a relatively subdued phase, evident in the diminishing realized volatility (RV) and implied volatility (IV) for prominent durations, signaling a period of consolidation.
Related: Bitcoin Mining's Minor Share in U.S. Power Usage
Amidst the tranquil market conditions, Bitcoin spot exchange-traded funds (ETFs) are steadily garnering incremental capital inflows, serving as a bullish indicator for the cryptocurrency. Conversely, some substantial traders, commonly referred to as "whales," have been trimming their positions, indicating a blend of profit-taking and strategic portfolio rebalancing.
Disclaimer. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.making a decision.FormationGgQMQd463ZWhNgfGe7YnSJok1Y2CGqWKf7QLmrxz9BYHGgQMQd463ZWhNgfGe7YnSJok1Y2CGqWKf7QLmrxz9BYHtern Formation
