Bitcoin

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<p>The post <a href="https://coinpedia.org/price-analysis/bitcoin-price-analysis-massive-breakout-on-the-horizon-watch-this-key-pattern/" rel="noopener noreferrer nofollow">Bitcoin Price Analysis: Massive Breakout on the Horizon? Watch This Key Pattern!</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>Bitcoin is currently displaying a symmetrical triangle pattern on lower time frames. What this indicates is a potential for a significant price move. At present, <a href="https://markets.coinpedia.org/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin is trading</a> at $58,981.14. But, recent data shows mixed signals for its short-term trajectory.&nbsp;</p>
<h2 class="wp-block-heading" id="h-recent-bitcoin-price-trends-nbsp">Recent Bitcoin Price Trends&nbsp;</h2>
<p>Over the past seven days, Bitcoin has risen by 6.4%, including a modest 0.6% increase in the last 24 hours and a 0.2% rise in the past hour. However, these gains follow a sharp decline earlier in August 2024.&nbsp;</p>
<h2 class="wp-block-heading" id="h-bitcoin-chart-analysis-volatile-start-in-august-nbsp">Bitcoin Chart Analysis: Volatile Start in August&nbsp;</h2>
<figure class="wp-block-image"><img decoding="async" width="900" height="685" src="https://image.coinpedia.org/wp-content/uploads/2024/08/13154416/image-47.png" alt="" class="wp-image-338071" srcset="https://image.coinpedia.org/wp-content/uploads/2024/08/13154416/image-47.png 900w, https://image.coinpedia.org/wp-content/uploads/2024/08/13154416/image-47-300x228.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/08/13154416/image-47-768x585.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/08/13154416/image-47-150x114.png 150w" sizes="(max-width: 900px) 100vw, 900px">
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<p>Bitcoin began August at $65,276 but quickly experienced a steep drop, falling to $53,984 between August 2nd and 5th. This decline was followed by a brief surge on August 8th, when strong buying pressure pushed the price from $55,113 to $61,706 in a single day. Unfortunately, this momentum was short-lived, as Bitcoin fell back below the $60,000 mark by August 11th, where it has remained.&nbsp;</p>
<h2 class="wp-block-heading" id="h-bitcoin-4-hour-chart-analysis-symmetrical-triangle-pattern-emerges-nbsp">Bitcoin 4-hour Chart Analysis: Symmetrical Triangle Pattern Emerges&nbsp;</h2>
<figure class="wp-block-image"><img decoding="async" width="1600" height="900" src="https://image.coinpedia.org/wp-content/uploads/2024/08/13154416/image-44.png" alt="" class="wp-image-338070" srcset="https://image.coinpedia.org/wp-content/uploads/2024/08/13154416/image-44.png 1600w, https://image.coinpedia.org/wp-content/uploads/2024/08/13154416/image-44-300x169.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/08/13154416/image-44-1024x576.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/08/13154416/image-44-768x432.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/08/13154416/image-44-1536x864.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/08/13154416/image-44-390x220.png 390w, https://image.coinpedia.org/wp-content/uploads/2024/08/13154416/image-44-150x84.png 150w" sizes="(max-width: 1600px) 100vw, 1600px">
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<p>In the 4-hour Bitcoin chart, a symmetrical triangle pattern has formed, suggesting a potential breakout. The price dropped from $69,542 on July 29th to $51,365 by August 5th before buyers reentered the market, pushing the price up to $61,674 on August 9th. Since then, Bitcoin has been trading sideways, fluctuating between $61,710 and $58,505.</p>
<figure class="wp-block-image"><img decoding="async" width="900" height="685" src="https://image.coinpedia.org/wp-content/uploads/2024/08/13154416/image-47.png" alt="" class="wp-image-338072" srcset="https://image.coinpedia.org/wp-content/uploads/2024/08/13154416/image-47.png 900w, https://image.coinpedia.org/wp-content/uploads/2024/08/13154416/image-47-300x228.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/08/13154416/image-47-768x585.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/08/13154416/image-47-150x114.png 150w" sizes="(max-width: 900px) 100vw, 900px">
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<p>Bitcoin’s current symmetrical triangle pattern hints at a possible breakout. Traders should watch the $59,000 – $59,530 range closely, as a substantial close outside this range could trigger a significant price move, as per an expert identified as <a href="https://x.com/ali_charts/status/1823253160921538797" target="_blank" rel="noopener noreferrer nofollow">Ali Martinez in X</a>.&nbsp;</p>
<p>Also Read: <a href="https://coinpedia.org/price-analysis/markets-could-remain-highly-volatile-here-are-the-cryptos-to-monitor-this-week/" target="_blank" rel="noopener noreferrer nofollow">Markets Could Remain Highly Volatile: Here are the Cryptos to Monitor This Week</a></p>

Bitcoin Price Analysis: Massive Breakout on the Horizon? Watch This Key Pattern!

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