Bitcoin Price Forms Bullish Pennant On 3-Day Chart, $145,000 Target Swims Into View

Quick Summary:

Although currently undergoing a brief correction after almost touching the $100,000 price level, technical analysis has shown the emergence of a bullish pattern on the Bitcoin price chart.  Notably, the correction has given rise to the formation of a bullish pennant on the 3-day candlestick Bitcoin price chart.

In his post, he stated, “Small Pennant Big Target,” while pointing to the formation on the 3-day candlestick Bitcoin price chart.  A bullish pennant is a continuation pattern that often emerges during strong uptrends.

For instance, this price target also made its way into an analysis by crypto analyst Tony Severino, whose analysis pointed to the Bitcoin price top for this cycle at around $145,000.$100,000 Price Target Still In Play At the time of writing, the BTC price is trading at $96,070 and is up by 0.5% in the past 24 hours but down by 3.3% in the past seven days.

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Author / Journalist: Scott Matherson

Category: Crypto

Markets: United Kingdom

Topics: Bitcoin news Bitcoin Crypto news Crypto analyst BTC news Analyst Bitcoin price Crypto Btcusd Btc BTCUSDT Btc price Bitcoin

Source Website Secure: Yes (HTTPS)

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Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-30 @ 00:00:25 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 491 words

Reading Time: 3 minutes read

Sentences: 69 lines

Sentence Length: 8 words per sentence (average)

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Copyright Owner: © NewsBTC

News ID: 23958421

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