{"id":655622,"date":"2024-11-30T00:00:25","date_gmt":"2024-11-30T00:00:25","guid":{"rendered":"https:\/\/ktsl888.com\/?p=655622"},"modified":"2024-11-29T12:39:05","modified_gmt":"2024-11-29T12:39:05","slug":"bitcoin-price-forms-bullish","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-price-forms-bullish\/","title":{"rendered":"Bitcoin Price Forms Bullish Pennant On 3-Day Chart, $145,000 Target Swims Into View"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Although <\/span><a href=\"https:\/\/ktsl888.com\/bitcoin-news\/bitcoin-holds-above-90k-on-chain-data-reveals-key-demand-levels\/\"><span style=\"font-weight: 400\">currently undergoing a brief correction<\/span><\/a><span style=\"font-weight: 400\"> after almost touching the $100,000 price level, technical analysis has shown the emergence of a bullish pattern on the Bitcoin price chart.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Notably, the correction has given rise to the formation of a bullish pennant on the 3-day candlestick Bitcoin price chart. This development might be the bullish momentum needed to eventually break past the $100,000 price threshold. However, the anticipated breakout is not just above $100,000, but a run that would send the cryptocurrency to $145,000.<\/span><\/p>\n<h2>Bullish Pennant Emerges On Bitcoin Price Chart<\/h2>\n<p><span style=\"font-weight: 400\">Recent price action in the past 24 hours has seen the Bitcoin price returning to the $96,000 price level after spending the majority of the <\/span><a href=\"https:\/\/ktsl888.com\/bitcoin-news\/bitcoin-sentiment-cools-down-extreme-greed-rally\/\"><span style=\"font-weight: 400\">week on a correction path<\/span><\/a><span style=\"font-weight: 400\">. Particularly, this correction saw the Bitcoin price hitting a low of $91,000 as many traders took profit.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/dogecoin\/dogecoin-price-arc-to-3\/\">Analyst Maps Out Dogecoin Price Arc To $3 Using A Logarithmic Scale<\/a><\/div>\n<p><span style=\"font-weight: 400\">Notably, this back-and-forth movement of the BTC price has given rise to the formation of a small bull pennant. Crypto analyst Trader Tardigrade, known for his technical analyses, pointed out this formation on social media platform X.<\/span><a href=\"https:\/\/x.com\/TATrader_Alan\/status\/36532956\" rel=\"nofollow\"><span style=\"font-weight: 400\"> In his post, he stated<\/span><\/a><span style=\"font-weight: 400\">, &#8220;Small Pennant Big Target,&#8221; while pointing to the formation on the 3-day candlestick Bitcoin price chart.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">A bullish pennant <\/span><a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-bullish-pennant-113000\/\"><span style=\"font-weight: 400\">is a continuation pattern <\/span><\/a><span style=\"font-weight: 400\">that often emerges during strong uptrends. It begins with a sharp price movement (the flagpole), followed by a consolidation phase (the pennant), before potentially breaking out in the same direction as the initial trend.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The emergence of this bullish pennant on Bitcoin&#8217;s 3-day chart suggests that the cryptocurrency may be gearing up for another leg higher. However, the formation suggests that the Bitcoin price could still continue to consolidate for a while as the liquidity in the pennant is yet to be filled. Nonetheless, Trader Tardigrade\u2019s analysis highlights the longer-term implications of this formation. According to his projections, once Bitcoin completes its consolidation and breaks out of the pennant, it could surge toward an ambitious price target of $145,000.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The $145,000 price target has become somewhat recurring among crypto analysts. For instance, this price target also made its way into an analysis by crypto analyst Tony Severino, whose analysis <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-top-analyst-stop-rally\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">pointed to the Bitcoin price top<\/span><\/a><span style=\"font-weight: 400\"> for this cycle at around $145,000.<\/span><\/p>\n<figure id=\"attachment_655625\" aria-describedby=\"caption-attachment-655625\" style=\"width: 408px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-655625\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/11\/Bitcoin-price-9.png?w=408&#038;resize=408%2C460\" alt=\"Bitcoin price\" width=\"408\" height=\"460\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/11\/Bitcoin-price-9.png?w=454 454w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/11\/Bitcoin-price-9.png?w=408 408w\" sizes=\"auto, (max-width: 408px) 100vw, 408px\"><figcaption id=\"caption-attachment-655625\" class=\"wp-caption-text\">Source: X<\/figcaption><\/figure>\n<h2>$100,000 Price Target Still In Play<\/h2>\n<p><span style=\"font-weight: 400\">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. The possibility of the Bitcoin price reaching the $100,000 price mark<\/span><a href=\"https:\/\/bitcoinist.com\/bitcoins-path-to-100000-milestone-still-intact\/\" rel=\"nofollow\"><span style=\"font-weight: 400\"> is not a matter of if <\/span><\/a><span style=\"font-weight: 400\">at this point but of when.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-price-rejection-at-99000\/\">Bitcoin Price Rejection At $99,000: Temporary Or End Of The Bull Rally?<\/a><\/div>\n<p><a href=\"https:\/\/ktsl888.com\/bitcoin-news\/experts-predict-bitcoin-journey-to-100000-after-thanksgiving-rally\/\"><span style=\"font-weight: 400\">Speaking of when,<\/span><\/a><span style=\"font-weight: 400\"> the BTC price is about to witness another catalyst that could finally send it above $100,000. Bitcoin is about to undergo its largest monthly options expiry of 2024 on Friday, involving a total exposure of $13.6 billion. This expiry event could provide the momentum needed for bullish traders to drive Bitcoin\u2019s price past the $100,000 milestone in the coming week.<\/span><\/p>\n<figure style=\"width: 3286px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/MT56SXrB\/\" alt=\"Bitcoin price chart from Tradingview.com\" width=\"3286\" height=\"1518\"><figcaption class=\"wp-caption-text\">BTC price above $97,000 | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">BTCUSD on Tradingview.com<\/a><\/figcaption><\/figure>\n<div class=\"disclaimer-shortcode\">Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>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.\u00a0 Notably, the correction has given rise to the formation of a bullish pennant on the 3-day candlestick Bitcoin price chart. This development might be the bullish momentum needed to eventually break past the $100,000 price threshold. However, the anticipated breakout is not just above $100,000, but a run that would send the cryptocurrency to $145,000. Bullish Pennant Emerges On Bitcoin Price Chart Recent price action in the past 24 hours has seen the Bitcoin price returning to the $96,000 price level after spending the majority of the week on a correction path. Particularly, this correction saw the Bitcoin price hitting a low of $91,000 as many traders took profit. Related Reading: Analyst Maps Out Dogecoin Price Arc To $3 Using A Logarithmic Scale Notably, this back-and-forth movement of the BTC price has given rise to the formation of a small bull pennant. Crypto analyst Trader Tardigrade, known for his technical analyses, pointed out this formation on social media platform X. In his post, he stated, &#8220;Small Pennant Big Target,&#8221; while pointing to the formation on the 3-day candlestick Bitcoin price chart.\u00a0 A bullish pennant is a continuation pattern that often emerges during strong uptrends. It begins with a sharp price movement (the flagpole), followed by a consolidation phase (the pennant), before potentially breaking out in the same direction as the initial trend.\u00a0 The emergence of this bullish pennant on Bitcoin&#8217;s 3-day chart suggests that the cryptocurrency may be gearing up for another leg higher. However, the formation suggests that the Bitcoin price could still continue to consolidate for a while as the liquidity in the pennant is yet to be filled. Nonetheless, Trader Tardigrade\u2019s analysis highlights the longer-term implications of this formation. According to his projections, once Bitcoin completes its consolidation and breaks out of the pennant, it could surge toward an ambitious price target of $145,000. The $145,000 price target has become somewhat recurring among crypto analysts. 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. The possibility of the Bitcoin price reaching the $100,000 price mark is not a matter of if at this point but of when.\u00a0 Related Reading: Bitcoin Price Rejection At $99,000: Temporary Or End Of The Bull Rally? Speaking of when, the BTC price is about to witness another catalyst that could finally send it above $100,000. Bitcoin is about to undergo its largest monthly options expiry of 2024 on Friday, involving a total exposure of $13.6 billion. This expiry event could provide the momentum needed for bullish traders to drive Bitcoin\u2019s price past the $100,000 milestone in the coming week. Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":654183,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[167,428,656,679,1119,89185,1122,1144,78790,6664,26263,14690],"class_list":["post-655622","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-analyst","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-analyst","tag-crypto-news"],"acf":[],"yoast_head":"\n<title>Bitcoin Price Forms Bullish Pennant On 3-Day Chart, $145,000 Target Swims Into View<\/title>\n<meta name=\"description\" content=\"Although undergoing a brief correction , technical analysis has shown the emergence of a bullish pattern on 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