{"id":152898,"date":"2023-09-10T01:38:35","date_gmt":"2023-09-09T20:08:35","guid":{"rendered":"https:\/\/dripp.zone\/news\/bullish-pattern-in-play-hints-8-5-jump-crypto-news\/"},"modified":"2023-09-10T01:38:37","modified_gmt":"2023-09-09T20:08:37","slug":"bullish-pattern-in-play-hints-8-5-jump-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bullish-pattern-in-play-hints-8-5-jump-crypto-news\/","title":{"rendered":"Bullish Pattern in Play Hints 8.5% Jump &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"post-158879\">\n<p>\nThe formation of a double bottom pattern may intensify the buying momentum in BTC price; Enter today?\t\t\t\t<\/p>\n<p><!--\n     \n\n<div class=\"marketThumbs\">\n             <noscript><img width=\"1200\" height=\"681\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/09\/10012705\/YUXaGZJw-e1694289446809.png\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"BTC Price Prediction\" decoding=\"async\" fetchpriority=\"high\" \/><\/noscript><\/div>\n\n\n--><\/p>\n<p class=\"MarketsUp f-14 d-block\">Published 10 seconds ago  <\/p>\n<div class=\"Atcs\">\n<p><span style=\"font-weight: 400\">At the August end, the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/price\/bitcoin\/\">Bitcoin price<\/a> witnessed a momentary surge of 10%, trying to restore recovery sentiment in the market. However, the momentum was short-lived as the price quickly retreated to the local support at $25500, extending its consolidation phase. Is this support enough to trigger a fresh recovery rally?<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<p>Also Read: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/btc-price-short-term-holders-capitulation-persists-26-drop-on-the-cards\/\">BTC Price Short-Term Holders Capitulation Persists, 26% Drop On The Cards?<\/a><\/p>\n<h2><b>Bullish Chart Pattern Foretells Potential Upswing<\/b><span style=\"font-weight: 400\">\u00a0<\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">The technical chart projects the demand pressure at $25000 is active.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">A bullish breakout from the $28168 barrier will surge the coin price by 8.5%<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">The intraday trading volume in Bitcoin is $5.9 Billion, indicating a 56.5% loss.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"BTC Price Prediction\" width=\"1946\" height=\"1104\" data-lazy-src=\"https:\/\/s3.tradingview.com\/snapshots\/y\/YUXaGZJw.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"https:\/\/s3.tradingview.com\/snapshots\/y\/YUXaGZJw.png\" alt=\"BTC Price Prediction\" width=\"1946\" height=\"1104\"\/><\/noscript>Source-<\/span><span style=\"font-weight: 400\">Tradingview<\/span><\/p>\n<p><span style=\"font-weight: 400\">The daily time frame chart reflects multiple lower price rejection candles at $25500 support, indicating the buyers continue to defend this level.<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400\">Concerning this support, the technical chart suggests the possibility of a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/glossary\/double-bottom-pattern\/\">double-bottom<\/a> formation. This chart setup is often spotted at the bottom of a downtrend, projecting an increase in demand pressure for a bullish reversal.<\/span><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400\">By the press time, the BTC price traded at $259006, with an intraday loss of 0.19%.<\/span><\/p>\n<p><span style=\"font-weight: 400\">If the current pattern follows through, the buyers would likely break past the $28,168 neckline resistance. This breakout would be a better signal of a bullish recovery and may push the prices to $31,548.\u00a0<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<h2><b>Will BTC Price Lose $25500 support?<\/b><\/h2>\n<p><span style=\"font-weight: 400\">It\u2019s also worth noting that despite experiencing multiple rejections at the $25,489 support, the buyers failed to establish a significant rebound. This reflects weakness in bullish momentum and the possibility of $25000. This breakdown will invalidate the aforementioned pattern and push the prices to the $24000 mark<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><b>Exponential Moving Average: <\/b><span style=\"font-weight: 400\">\u00a0A possible death crossover between 50-and-200 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/education\/exponential-moving-average-how-to-leverage-it-in-crypto-market\/\">EMA<\/a> would encourage sellers for prolonged consolidation.<\/span><\/li>\n<li style=\"font-weight: 400\"><b>Relative Strength Index: <\/b><span style=\"font-weight: 400\">Considering the same price bottom at $25500, the daily <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/glossary\/rsi-relative-strength-index\/\">RSI<\/a> slope a significant rally indicating the rising accumulation from traders.<\/span><\/li>\n<\/ul><\/div>\n<div class=\"MarketBottm\">\n<div class=\"Socilsm\">\n<p>\n                    Share this article on:<\/p>\n<div class=\"LinksSo\">\n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.me\/share\/url?url=https:\/\/coingape.com\/markets\/btc-price-prediction-bullish-pattern-in-play-hints-8-5-jump-ahead\/&#038;text=BTC Price Prediction: Bullish Pattern in Play Hints 8.5% Jump Ahead\" class=\"TeleS\"><i class=\"fa fa-paper-plane-o\"\/><\/a><br \/>\n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/api.whatsapp.com\/send?text=https:\/\/coingape.com\/markets\/btc-price-prediction-bullish-pattern-in-play-hints-8-5-jump-ahead\/\" data-action=\"share\/whatsapp\/share\" class=\"TeleSwp\"><i class=\"fa fa-whatsapp\"\/><\/a><br \/>\n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/share?url=https:\/\/coingape.com\/markets\/btc-price-prediction-bullish-pattern-in-play-hints-8-5-jump-ahead\/\" class=\"tw_new_logo\"><br \/>\n<img loading=\"lazy\" decoding=\"async\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" class=\"mb-1\" alt=\"coingape\" width=\"18\" height=\"18\" data-lazy-src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\" class=\"mb-1\" alt=\"coingape\" width=\"18\" height=\"18\"\/><\/noscript><br \/>\n<\/a><br \/>\n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer\/sharer.php?u=https:\/\/coingape.com\/markets\/btc-price-prediction-bullish-pattern-in-play-hints-8-5-jump-ahead\/\" class=\"TeleSFb\"><i class=\"fa fa-facebook\"\/><\/a>\n                    <\/div>\n<\/p><\/div>\n<\/div>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA158879\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<!--\n                                      \n\n<div class=\"getAuthoname\">\n                                          \n                                                                                 \n                                       <\/div>\n\n \n--><\/p>\n<p>Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading                         <\/p>\n<\/p><\/div>\n<div class=\"author_Image\">\n                                             <img loading=\"lazy\" alt=\"\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" data-lazy-srcset=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\" data-lazy-src=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=200&#038;d=mm&#038;r=g\"\/><noscript><img loading=\"lazy\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=200&#038;d=mm&#038;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\"\/><\/noscript>                                       <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD158879\">\n<p>  The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n<p>     <!--           <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/category\/price-analysis\/\" class=\"closeArticle2 close-btn\">Close Story<\/a>--><\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The formation of a double bottom pattern may intensify the buying momentum in BTC price; Enter today? Published 10 seconds ago At the August end, the Bitcoin price witnessed a momentary surge of 10%, trying to restore recovery sentiment in the market. However, the momentum was short-lived as the price quickly retreated to the local [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":152899,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[188,183,185,186,187,184,189,150,182,190],"class_list":["post-152898","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-blockchain-tech","tag-blockchain-technology","tag-crypto-technology","tag-cryptocurrency-technology","tag-metaverse-technology","tag-nft-technology","tag-soul-bound-token","tag-tech","tag-technology","tag-token-technology"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/152898","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=152898"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/152898\/revisions"}],"predecessor-version":[{"id":152900,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/152898\/revisions\/152900"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/152899"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=152898"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=152898"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=152898"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}