Bitcoin Price Chart: Monthly Candle Pattern Shows Strongest Trend Reversal Ever

Bitcoin price is once again making headlines on mainstream media outlets, revisiting once forgotten memories of the crypto bubble of 2017, where Bitcoin’s meteoric rise captured the interest of the world and took it to its all-time high of $20,000.
Just this past week, $10,000 was reclaimed by Bitcoin – a price point that last time around created widespread FOMO and caused investors to flock to this space.
After the new level was taken, the monthly Bitcoin price chart is forming a “three white soldiers” candlestick formation that typically signals in financial assets a strong reversal. But Bitcoin isn’t any regular financial asset, and Bitcoin’s trend reversal may be the strongest ever witnessed by humankind, according to one crypto analyst.
Crypto Analyst: Bitcoin Price Bear Market Trend Reversal Is Strongest In Human History
Many people know by now that Bitcoin is the fastest rising asset in human history, with no other asset providing investors with more profits had they bought in at its inception than the first ever cryptocurrency. Everyone always wishes they bought more – even buying consistently through dollar cost averaging since the Bitcoin top would have led investors to profit.
Related Reading | Tom Lee: Bitcoin Price Nearing FOMO Trigger, BTC To Trade Between $20K and $40K 
But it’s also capable of extreme price crashes with each subsequent “bubble” pop, eliminating as much as 85%+ in value each time it happens. Each time it’s also pronounced dead, but makes a triumphant comeback that ultimate draws in more investors than the previous cycle.

Bitcoin CME Futures Gaps Are Filled With 95% Certainty, But Trading Them Is Risky
Thursday December 05, 2019

If you’ve been a crypto investor or traded Bitcoin at all during 2019, chances are you’ve heard repeated discussion surrounding the “gaps” on Bitcoin futures charts offered by the Chicago Mercantile Exchange. But what...

The post Bitcoin CME Futures Gaps Are Filled With 95% Certainty, But Trading Them Is Risky appeared first on 12bitplay - Bitcoin Play.

After such a brutal bear market, that some believe included an over-correction below $6,000 to extreme lows and fear, an incredibly powerful reversal has occurred. Bitcoin, from its deepest, darkest lows, has surged over 250%, reclaimed important price levels such as $10,000 and is already setting its sights on reclaiming its previous all-time high – a price it’s already regained as much as 75% of in the recent months.
Related Reading | Crypto Analyst: After $10,000, Bitcoin Price Will Never Again Trade at Four Digits 
As the leading crypto asset by market cap shows no signs of stopping, if the current monthly candle closes in the green, Bitcoin will have printed a bullish chart pattern setup called “three white soldiers,” and one crypto analyst calls this and Bitcoin’s powerful rebound the “strongest trend reversal of an asset [the] human race has ever experienced,” and it may only just be getting started if the candle structure closes with a clean three white soldiers.

Why Ethereum Price is Likely to See Strong Upward Breakout Against Bitcoin
Friday December 06, 2019

As the crypto market has stagnated, all eyes have fallen on Bitcoin, not Ethereum or Litecoin, as the leading cryptocurrency’s next large move will likely determine in which direction this entire industry heads for...

The post Why Ethereum Price is Likely to See Strong Upward Breakout Against Bitcoin appeared first on 12bitplay - Bitcoin Play.

This is probably the strongest trend reversal of an asset human race has ever experienced and it's just getting started. #bitcoin pic.twitter.com/GCm8JSATv6
— Galaxy (@galaxyBTC) June 25, 2019

Analyst: Bitcoin Price “Near Bull Market” as Long-Term Signals Remain Strong
Thursday December 05, 2019

For some reason or another, Bitcoin traders and investors have begun to fear the worst again. In fact, investors like hedge fund manager Mark Dow (who shorted the $20,000 BTC top of late-2017), have...

The post Analyst: Bitcoin Price “Near Bull Market” as Long-Term Signals Remain Strong appeared first on 12bitplay - Bitcoin Play.

According to Wikipedia, the bullish candlestick pattern “unfolds across three trading sessions and suggests a strong price reversal from a bear market to a bull market.”
“The three white soldiers help to confirm that a bear market has ended and market sentiment has turned positive,” Wikipedia reads.
Published author and technical analyst Gregory L. Morris says that this sort of price pattern is so bullish, it “should never be ignored.”
Featured image from Shutterstock
The post Bitcoin Price Chart: Monthly Candle Pattern Shows Strongest Trend Reversal Ever appeared first on NewsBTC.

You may also like...