Research Snappy
  • Market Research Forum
  • Investment Research
  • Consumer Research
  • More
    • Advertising Research
    • Healthcare Research
    • Data Analysis
    • Top Companies
    • Latest News
No Result
View All Result
Research Snappy
No Result
View All Result

Bitcoin Price Analysis: Falling Wedge Breakout on 4H

researchsnappy by researchsnappy
January 26, 2020
in Healthcare Research
0
Bitcoin Price Analysis: Falling Wedge Breakout on 4H
399
SHARES
2.3k
VIEWS
Share on FacebookShare on Twitter

Bitcoin is currently priced at $8,560 on major exchanges – up 2.6% on a 24-hour basis.

The cryptocurrency broke higher from a falling wedge pattern earlier Sunday, signaling an end of the correction from $9,200 and the resumption of the rally from $6,850 (January 3 low).

4H chart

The pent up pressure in a low-volatility environment (pullback) is released following a wedge breakout. As a result, the breakout of the wedge often results in a powerful to the higher side.

The digital currency has already risen by $200 since confirming a breakout earlier today and could challenge the resistance range of $8,750-$8,800, above which the focus would shift to the 200DMA at $9,000.

The 4H chart also shows a double bottom breakout – Bitcoin is trading well above the neckline resistance of $8,516. The breakout would be confirmed if the current 4H candle closes above $8,516.

The upside bias would weaken if prices fall back to $8,400 in the next couple of hours. The bearish case would be revived if prices secure a foothold below a crucial Fibonacci support at $8,296.

Previous Post

Wary of fiscal slippage, markets pin hopes on growth stimulus in run-up to budget

Next Post

2020 is the year Apple gets serious about augmented reality

Next Post
2020 is the year Apple gets serious about augmented reality

2020 is the year Apple gets serious about augmented reality

Research Snappy

Category

  • Advertising Research
  • Consumer Research
  • Data Analysis
  • Healthcare Research
  • Investment Research
  • News

Pa. Republicans reconsider Pitt funding over fetal tissue research, college voucher program

Arthur Pharma Closes Series A Financing Round

YouTube and the Achilles Tendon: An Analysis of Internet Information Reliability and Content Quality

  • Privacy Policy
  • Terms of Use
  • Antispam
  • DMCA
  • Contact Us

© 2022 researchsnappy.com

No Result
View All Result
  • Market Research Forum
  • Investment Research
  • Consumer Research
  • More
    • Advertising Research
    • Healthcare Research
    • Data Analysis
    • Top Companies
    • Latest News

© 2022 researchsnappy.com