{"id":432908,"date":"2020-07-31T17:00:15","date_gmt":"2020-07-31T17:00:15","guid":{"rendered":"https:\/\/ktsl888.com\/?p=432908"},"modified":"2020-07-31T16:11:03","modified_gmt":"2020-07-31T16:11:03","slug":"bitcoin-forms-three-white-soldiers","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-forms-three-white-soldiers\/","title":{"rendered":"What To Expect If Bitcoin Forms Three White Soldiers On Weekly Timeframes"},"content":{"rendered":"

Bitcoin price<\/a> this week exploded through resistance at $10,000 and blasted to a high of $11,400. The cryptocurrency is now consolidating below that level, gearing up for what one crypto analyst expects to be a follow up nearly one and a half times the size of this week’s rally.<\/p>\n

Will the cryptocurrency close a “Three White Soldiers” formation, and if it does, what can be expected for price action in the days and weeks ahead?<\/p>\n

Bitcoin Price Weekly Structure Looks Set For Bullish Uptrend Pattern, Claims Crypto Analyst<\/h2>\n

In response to the United States’ second round of stimulus money flowing into free markets, gold soared to a new record<\/a>, while silver, Bitcoin, and cryptocurrencies went on a tear.<\/p>\n

These hard assets are expected to continue to perform in response to hastening inflation. Cryptocurrencies like Bitcoin are also breaking out from a three-year bear market, providing them with much pent up momentum.<\/p>\n

Related Reading | Why Bitcoin Ditching Stock Market Correlation For Gold Is Bullish for BTC<\/a><\/strong><\/em><\/p>\n

Case in point, BTCUSD rallied over 13% this week alone, after spending nearly three full months consolidating below $10,000. And while much of the push from precious metals and crypto was due to the dollar collapsing and not all due to these assets pumping, most analysts are expecting the uptrend to continue in crypto.<\/p>\n

According to one crypto analyst’s “bold take<\/a>,” they expect Bitcoin to close out this week strong, yet next week much stronger. They see the leading cryptocurrency by market cap performing 1.5 times better than this week, confirming a three white soldiers Japanese candlestick pattern.<\/p>\n

But what exactly will the pattern imply if confirmed?<\/p>\n

\"bitcoin<\/p>\n

BTCUSD Weekly Three White Soldiers | Source: TradingView<\/a><\/pre>\n
Will Three White Soldiers Form On BTCUSD Weekly Price Chart? What Does This Mean?<\/h2>\n
Three white soldiers<\/a> is a bullish Japanese candlestick pattern, where three green candles close in a row, each higher than the next, with similar-sized or increasingly larger candlestick bodies.<\/p>\n
Even if the pattern confirms with three candles in a row, due to heavily overbought conditions the fourth candle in the formation is often a pullback. After that, however, three white soldiers would confirm a new uptrend.<\/p>\n
The last time such a pattern confirmed, was during the 2019 parabolic rally that took Bitcoin price to $14,000.<\/p>\n
Related Reading | Bearish Bitcoin Signal That Preceded 220% Explosion in 2017 Just Flashed<\/a><\/strong><\/em><\/p>\n
After finally breaking out from resistance near Bitcoin’s bottom, the asset paused, consolidated, and then took off like a rocket ship. The second weekly candle was particularly large after the breakout, matching the rally we’ve seen this past week.<\/p>\n
What came next, was another 100% climb before the asset topped out. Another 100% rally from current prices, would take Bitcoin price<\/a> to a new all-time high.<\/p>\n
Three white soldiers are the opposite signal of three black crows. The bearish signal<\/a> appeared on monthly timeframes following the asset topping in 2019, promoting a new downtrend to follow.<\/p>\n
With three white soldiers potentially forming on BTCUSD weekly price charts, will it kick off another explosive uptrend?<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price this week exploded through resistance at $10,000 and blasted to a high of $11,400. The cryptocurrency is now consolidating below that level, gearing up for what one crypto analyst expects to be a follow up nearly one and a half times the size of this week’s rally. Will the cryptocurrency close a “Three White Soldiers” formation, and if it does, what can be expected for price action in the days and weeks ahead? Bitcoin Price Weekly Structure Looks Set For Bullish Uptrend Pattern, Claims Crypto Analyst In response to the United States’ second round of stimulus money flowing into free markets, gold soared to a new record, while silver, Bitcoin, and cryptocurrencies went on a tear. These hard assets are expected to continue to perform in response to hastening inflation. Cryptocurrencies like Bitcoin are also breaking out from a three-year bear market, providing them with much pent up momentum. Related Reading | Why Bitcoin Ditching Stock Market Correlation For Gold Is Bullish for BTC Case in point, BTCUSD rallied over 13% this week alone, after spending nearly three full months consolidating below $10,000. And while much of the push from precious metals and crypto was due to the dollar collapsing and not all due to these assets pumping, most analysts are expecting the uptrend to continue in crypto. According to one crypto analyst’s “bold take,” they expect Bitcoin to close out this week strong, yet next week much stronger. They see the leading cryptocurrency by market cap performing 1.5 times better than this week, confirming a three white soldiers Japanese candlestick pattern. But what exactly will the pattern imply if confirmed? BTCUSD Weekly Three White Soldiers | Source: TradingView Will Three White Soldiers Form On BTCUSD Weekly Price Chart? What Does This Mean? Three white soldiers is a bullish Japanese candlestick pattern, where three green candles close in a row, each higher than the next, with similar-sized or increasingly larger candlestick bodies. Even if the pattern confirms with three candles in a row, due to heavily overbought conditions the fourth candle in the formation is often a pullback. After that, however, three white soldiers would confirm a new uptrend. The last time such a pattern confirmed, was during the 2019 parabolic rally that took Bitcoin price to $14,000. Related Reading | Bearish Bitcoin Signal That Preceded 220% Explosion in 2017 Just Flashed After finally breaking out from resistance near Bitcoin’s bottom, the asset paused, consolidated, and then took off like a rocket ship. The second weekly candle was particularly large after the breakout, matching the rally we’ve seen this past week. What came next, was another 100% climb before the asset topped out. Another 100% rally from current prices, would take Bitcoin price to a new all-time high. Three white soldiers are the opposite signal of three black crows. The bearish signal appeared on monthly timeframes following the asset topping in 2019, promoting a new downtrend to follow. With three white soldiers potentially forming on BTCUSD weekly price charts, will it kick off another explosive uptrend?<\/p>\n","protected":false},"author":517,"featured_media":432915,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3,4],"tags":[428,1119,1144,78790,6664,79673,4524,76835],"class_list":["post-432908","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","category-analysis","tag-bitcoin","tag-btc","tag-btcusd","tag-btcusdt","tag-crypto","tag-three-white-soliders","tag-xbt","tag-xbtusd"],"acf":[],"yoast_head":"\nWhat To Expect If Bitcoin Forms Three White Soldiers On Weekly Timeframes<\/title>\n<meta name=\"description\" content=\"Bitcoin price this week exploded through resistance at $10,000 and blasted to a high of $11,400. 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As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market. A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony\u2019s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements. Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.","sameAs":["https:\/\/coinchartist.io\/","https:\/\/www.instagram.com\/coinchartist_io\/","https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC","https:\/\/www.youtube.com\/@coinchartist_io"],"url":"https:\/\/ktsl888.com\/author\/tonymspilotro\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"What To Expect If Bitcoin Forms Three White Soldiers On Weekly Timeframes","url":"http:\/\/ktsl888.com\/news\/bitcoin-forms-three-white-soldiers\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/bitcoin-forms-three-white-soldiers\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/07\/bitcoin-three-white-soliders-Depositphotos_90773834_xl-2015-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/07\/bitcoin-three-white-soliders-Depositphotos_90773834_xl-2015-scaled.jpg?fit=2560%2C1427"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Tony \"El Toro\" Severino"}],"creator":["Tony \"El Toro\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","btcusd","btcusdt","crypto","three white soliders","xbt","xbtusd"],"dateCreated":"2020-07-31T17:00:15Z","datePublished":"2020-07-31T17:00:15Z","dateModified":"2020-07-31T17:00:15Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"What To Expect If Bitcoin Forms Three White Soldiers On Weekly Timeframes\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-forms-three-white-soldiers\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-forms-three-white-soldiers\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/07\\\/bitcoin-three-white-soliders-Depositphotos_90773834_xl-2015-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/07\\\/bitcoin-three-white-soliders-Depositphotos_90773834_xl-2015-scaled.jpg?fit=2560%2C1427\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"El Toro\\\" Severino\"}],\"creator\":[\"Tony \\\"El Toro\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"btcusd\",\"btcusdt\",\"crypto\",\"three white soliders\",\"xbt\",\"xbtusd\"],\"dateCreated\":\"2020-07-31T17:00:15Z\",\"datePublished\":\"2020-07-31T17:00:15Z\",\"dateModified\":\"2020-07-31T17:00:15Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/07\/bitcoin-three-white-soliders-Depositphotos_90773834_xl-2015-scaled.jpg?fit=2560%2C1427","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/432908"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/517"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=432908"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/432908\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/432915"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=432908"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=432908"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=432908"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}