Bitcoin Ascending Triangle

Bitcoin Ascending Triangle Pattern: Prepare for what is coming after $44,000 next

Bitcoin wedge pattern is formed on the 15-minute chart so the price movement is expected anytime soon. Bitcoin is rising but the question is if the ascend continues or this pump is momentary and fake?

The ascending pattern is considered Bullish as it has a consolidation area below it and a weaker resistance upside. The resistance is tested many times so it is very likely to break upside.

The live Bitcoin price today is $44,152.31 with a 24-hour trading volume of $36,859,947,745. Bitcoin is up 4.57% in the last 24 hours. The current CoinMarketCap ranking is #1, with a live market cap of $831,111,649,381.

 

Bitcoin Ascending Triangle

The ascending pattern is considered Bullish as it has a consolidation area below it and a weaker resistance upside. The resistance is tested many times so it is very likely to break upside.

Bitcoin Ascending Triangle Pattern: Technical Analysis:

This pattern is created with two trendlines. The first trendline is flat along the top of the triangle and acts as a resistance point which—after price successfully breaks above it—signals the resumption or beginning of an uptrend. The same trend has formed in the 15-minute chart of Bitcoin. If there is a breakout we can expect the price to first rise to the Fib Retracement level around $46,000. Ods are still against such a green trend as the Fear and Greed Index is still red at 27.

Bitcoin Ascending Triangle

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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