Bitcoin (BTC): the market builds a continuation range

After a vertical streak that can be described as excessive, BTC entered a sideways pause phase this January, with a trading range suggesting a continuation pattern.

Last week, Bitcoin’s price experienced its first week of decline since the market accelerated bullish after breaking old historical records in mid-December.

Bitcoin went from $ 20,000 to over $ 40,000 in one month, a vertical streak that had everything to be described as excessive.

A pause for a sustainable Bitcoin movement

Fortunately for the sustainability of the underlying bullish movement, BTC began a sideways pause phase this January, a trading range that takes the form of a triangle pattern. On an academic technical level, it is a continuation figure, so if the market comes out on top, bitcoin euro will join the 40K €; invalidation in case of bearish resolution of the pattern.

The market at the heart of the Altseason

The Bitcoin range has given way to a good altseason with the catching up of top-ranking alts like Ether, Link and Litecoin. Note also the current bullish fever (beware of retracement!) On the stars of the Defi. Be careful because Bitcoin will soon regain its leadership role and the alt could retrace.

Follow Vincent Ganne on Trading View for more financial market analysis. The technical thresholds and trend shown above are based on the “price, momentum, sentiment, ichimoku” technical approach. The data comes from Bitstamp and the charts from TradingView.

This content is provided for informational purposes only and does not constitute an investment recommendation. We remind you that investing in crypto-assets, including Bitcoin, is extremely risky. Cryptocurrency prices are subject to large and unpredictable price fluctuations.

Posted In BTC

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