Category: Bitcoin Technical Analysis

Bitcoin price hints at ‘megaphone’ bottom pattern, and a breakout toward $40K

Bitcoin price hints at ‘megaphone’ bottom pattern, and a breakout toward $40K

Bitcoin’s (BTC) latest rebound from below $30,000 has increased its prospects of extending its retracement move higher, at least according to one classic technical pattern. Dubbed as Broadening Formation, the megaphone-shaped pattern appears when the price moves inside two diverging trendlines. Investopedia states that a broadening formation represents disagreement over the next potential bias among […]

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