Bitcoin prints second ‘Bart’ pattern in a week to bottom at $29,200

2022-6-7 19:35

Bears took control at approximately 01:00 (GMT) on June 7 to sink the Bitcoin price. The ensuing sell-off eased at 03:00 (GMT), by which time Bitcoin had lost 7% of its value to bottoming out at $29,200.

This price action takes Bitcoin significantly below the 50-day simple moving average, widely interpreted as a trend change to the downside.

A fight back by bulls was thwarted at 09:00, as evidenced by a long top wick, more significant than the size of the candle body, on the hourly candle.

Since then, a downtrend pattern has formed, and the Relative Strength Index (RSI) is printing a horizontal reading along 30, at the cusp of being classed as oversold.

The price movement has resulted in the formation of a second Bart pattern just a week after the last one concluded at the start of June.

Source: BTCUSD on TradingView.com Bitcoin makes the Bart pattern, again

The Bart Simpson pattern is a short-term chart pattern characterized by a sharp rally, usually on a shorter timeframe like 30 minutes or an hour. A period of sideways action occurs, followed by a steep retracement to erase all previous gains.

Trader JamesRkaye said the appearance of the Bart pattern is sometimes associated with institutional manipulation. He warned that manipulators intend to shake down retail traders and have their opposing orders filled.

Bitcoin long traders suffered 24-hour liquidations totaling $129.2 million, according to data analytics platform Coinglass. This is significantly less than long liquidations experienced during the last Bart pattern, at $292 million.

Source: coinglass.com What now?

As Bitcoin retook $30,000 at the end of May, a new narrative formed among some investors that crypto winter would be short-lived.

However, Bitcoin is currently significantly below the 50-day moving average and back below $30,000 once more.

@rektcapital commented that the BTC uptrend will resume once the 50-day moving average is recaptured.

However, there is every likelihood that a continuation of selling will drop the price toward the 200-day moving average, which represents “maximum financial opportunity” according to the analyst.

The post Bitcoin prints second ‘Bart’ pattern in a week to bottom at $29,200 appeared first on CryptoSlate.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 67149.87 (+0.30%)
Объем 24H $15.905b
Изменеия 24h: 0.33 %, 7d: 10.36 %
Cегодня L: $66856.94 - H: $67210.96
Капитализация $1323.089b Rank 1
Цена в час новости $ 29911.36 (124.5%)

bitcoin bottom 200 week prints bart second

Источник: cryptoslate.com

bitcoin bottom → Результатов: 126


Top Analyst Declares ‘Last Accumulation Opportunity’ for Bitcoin Investors – Updates BTC Outlook

The popular Ultimate Oscillator momentum indicator has entered oversold territory for Bitcoin, potentially signaling an impending bottom according to some analysts. Crypto analyst CryptoCon highlighted that the oscillator recently crossed below 30 into the “cycle bottom zone”, something that has never occurred twice in a bear market.

2023-10-2 18:00


Bitcoin Fundamental Expert Breaks Down Why The Bottom Is In

Calling the bottom in Bitcoin is no easy task. Prices tend to fall more dramatically and faster than anyone is prepared for and is the investing equivalent of catching a falling knife. Yet if anyone is equipped to accurately call the bottom in crypto, it would be Charles Edwards, fund manager and Bitcoin fundamental expert, responsible for creating some of the most famous tools in crypto.

2022-12-7 01:41


Has Bitcoin Hit Bottom Yet? Here’s What On-Chain Data Says

Bitcoin continued to crash down yesterday, with the coin hitting as low as $21k before rebounding to current values. Has the crypto made the bottom yet? Bitcoin NUPL Indicator Assumes Negative Values For First Time Since 2020 As pointed out by an analyst in a CryptoQuant post, the NUPL metric has declined below zero, which could be a sign that the crypto may be approaching a bottom.

2022-6-14 22:00


Bitcoin Futures Backwardation: Reflection of “Weak Demand” or A Sign of “A Giga Bottom”

The price of Bitcoin has been bouncing this week, going from $31,000 on Tuesday to above $38,400 on Thursday. As of writing, BTC/USD is trading around $37,400. However, despite the jump, the price continues to be in the $30k-$40k range, and until either of the ends are breached, it is hard to pinpoint the direction […] The post Bitcoin Futures Backwardation: Reflection of “Weak Demand” or A Sign of “A Giga Bottom” first appeared on BitcoinExchangeGuide.

2021-6-11 16:25


Фото:

Buying $1K of Bitcoin at the 2018 Bottom Would’ve Made You This Rich

Bitcoin and other crypto-assets are both loved and loathed by traders for their epic volatility. While many have lost everything from it, others have made a fortune by getting in at the right time. So, how much would you have made if you invested $1,000 in BTC during the 2018 bottom? That Momentous Bitcoin Bottom Bitcoin has had an amazing start to 2020, up 44% since its yearly open price. So far, it has outperformedRead More

2020-2-15 22:00


Фото:

Bitcoin is in a ‘perfect storm’ for the rest of 2019 to perform a bullish move

Bitcoin’s collapse from its 2017 high is still continuing. There have been people who said that Bitcoin had bottomed and others who concluded that Bitcoin was yet to bottom. It is impossible to predict the bottom of Bitcoin, however, it can be seen that Bitcoin has had some improvements in the macro scale as compared […] The post Bitcoin is in a ‘perfect storm’ for the rest of 2019 to perform a bullish move appeared first on AMBCrypto.

2019-3-31 22:30


Fundstrat: Институциональные инвесторы оптимистичны в отношении будущего биткоина

Институциональные инвесторы больше уверены в перспективах роста биткоина, чем остальные участники криптосообщества. Такое мнение высказал в интервью CNBC управляющий партнер Fundstrat Том Ли. Согласно данным проведенного Ли Twitter-опроса, большинство репондентов уверены, что цена биткоина уже достигла «дна».

2018-10-6 14:59


Опрос: 54% институционалов считают, что биткоин достиг дна

Институциональные инвесторы больше уверены в перспективах роста биткоина, чем остальные участники криптосообщества. Такое мнение высказал в интервью CNBC управляющий партнер Fundstrat Том Ли. Согласно данным проведенного Ли Twitter-опроса, большинство репондентов уверены, что цена биткоина уже достигла «дна».

2018-10-5 13:25


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin still struggling around $61k: Will it dip lower?

Key takeaways Bitcoin continues to struggle below $62k and could plunge lower in the short term. Bitbot has raised $3. 3m so far, with only two stages of the presale left. Bitcoin stays below $62k Bitcoin has been struggling in recent weeks and could record further losses if the market condition persists.

AEVO, Arbitrum, Render token unlocks near as BitBot gains momentum

Popular cryptocurrencies are on edge as investors wait for their upcoming token unlocks that will lead to more dilution. Arbitrum’s ARB token was trading at $1 on Sunday, down by over 58% from its highest point in 2023, and is near its lowest swing since December 1st last year.

Crypto fear and greed index slips as the BitBot raises $3M

A sense of fear is creeping up in the cryptocurrency market as investors focused on the upcoming Federal Reserve decision. The closely-watched crypto fear and greed index has crashed from the extreme greed zone of over 80 to the neutral phase of 58.

Bitcoin struggles below $64k ahead of the halving: Will it plunge lower?

Key takeaways BTC continues to struggle below the $64k level ahead of the Bitcoin halving event in two days. Bitbot’s presale is now above $2. 5 million. Bitcoin stays below $64k ahead of halving Bitcoin has been struggling in recent weeks and could record further losses if the market condition persists.