Must Read: Bitcoin Forming A Key Pattern At This Level! What Next?

10:29 am, Wed, 5 January 22

Current Bitcoin Data

Dominance
Price
Market Cap
Volume (24h)
1h
12h
1d
7d
1m
1y
Bitcoin has been selling off from its ATHs and is currently at -34% but for how long? Watch as this bearish momentum is drying up on the 1-hour timeframe

The Bitcoin price has been selling off for weeks now, losing the cryptocurrency more than -34% in value from its previous ATHs as of the time of writing this.

However, that rapid sell-off seems to be slowing down or even stopping right now and the key level to thank for this is the $45,538 key support on the 1-hour timeframe.

The bears have tested this level over and over again and the Bitcoin price has not budged! This means there is a lot of bullish support here and this might be the turnaround we have been waiting for!

Bitcoin bearish momentum finally drying up! Is the BTC Cryptocurrency ready to reverse? Watch this key level on the 1-hour timeframe

In this Bitcoin analysis, we will be talking about the key pattern currently forming at this key level and what it might mean for the Bitcoin price in the coming days.

To trade BTC with leverage, sign-up to Bybit right now! Bybit’s BIGGEST Deposit Bonus Campaign is now live! First-time depositors can get up to a $3,500 Bonus when you sign-up and fund your Bybit account with our Bybit link.

Claim up to $4100 in Bonus

100x Leverage

Bitcoin Ending Diagonal Pattern!

Bitcoin Forming A Key Pattern At This Level! What Next?
Bitcoin Forming A Key Pattern At This Level! What Next? Watch this Bitcoin prediction on the 1-hour timeframe

The Bitcoin price is currently forming an Ending Diagonal pattern on the 1-hour timeframe. And the most important thing about this pattern is where it is currently playing out.

This confluence of an ending diagonal pattern at the $45,538 key level gives the Bitcoin bulls the chance to take back this market and stop the downward trend in Bitcoin. But can they do it?

Bitcoin Forming A Key Pattern At This Level! What Next?
Bitcoin Forming A Key Pattern At This Level! What Next? Watch this bullish prediction on the 1-hour timeframe

A Bit More About Ending Diagonal Patterns!

An Ending Diagonal Pattern is the first sign that a price reversal might be coming into play soon. It usually forms after a massive move occurs and the momentum dries up to push it any further.

Once the Ending Diagonal Pattern is completed, we can expect to see a bullish reversal in play and a massive surge to the upside.

Best Trade Entry Levels For This Pattern!

The best trade entry level is a break of the resistance channel of the pattern on the 1-hour timeframe. Once the Ethereum price can clearly break through this level and stay above it, we can expect to see the bullish rally follow through immediately!

Bitcoin Forming A Key Pattern At This Level! What Next?
Bitcoin Forming A Key Pattern At This Level! What Next? Watch this bullish prediction on the 1-hour timeframe

Final Verdict!

The Bitcoin price is currently forming a bullish reversal pattern around the $45, 538 key level on the 1-hour timeframe. The biggest question we want to be answered is

Can the Bitcoin bulls stay above the $45,538 key level on the 1-hour timeframe?

As far as the Bitcoin price stays above this key level, the bullish reversal Ending Diagonal pattern remains valid. However, a break below this key $45,538 key level only spells doom for Bitcoin.

Claim up to $4100 in Bonus

100x Leverage

Easy Steps From Beginner To Pro Crypto Trader

You can speed up your learning journey by reading our How To Trade Bitcoin Guide. This guide is the best for crypto traders who wants to get familiar with the basics of Bitcoin trading. You can also check out our top list of Best Bitcoin Exchanges To Trade With.

PrimeXBT Covesting: Trade Hassel Free

Sign-up on PrimeXBT today to trade Bitcoin hassle-free. You can copy experienced traders and access hundreds of different strategies on the platform! Don’t forget to claim your 25% bonus by using the promo code “bitcoinsensus50” when you sign-up with our link  PrimeXBT Covesting

Recommended Bitcoin Trading Platforms:
★★★★★
★★★★★

Rating: 94%

Claim up to $4100 in Bonus

100x Leverage

Fees:
Deposit Methods:
Taker:
0.075%
Maker:
-0.025%
Wire:
Credit:
Crypto:
★★★★★
★★★★★

Rating: 89%

Claim up to $4100 in Bonus

100x Leverage

Fees:
Deposit Methods:
Taker:
0.075%
Maker:
-0.025%
Wire:
Credit:
Crypto:
★★★★★
★★★★★

Rating: 91%

Claim up to $7000 in Bonus

100x Leverage

Fees:
Deposit Methods:
Taker:
0.050%
Maker:
0.050%
Wire:
Credit:
Crypto: