NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30

Bitcoin Eyes $41,000-Retest as Two Indicators Confirms Bull Run

Yashu Gola
Yashu Gola
1 year ago
2 mins read
Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Bitcoin bulls should brace for a wild upside run towards $41,000.

According to Scott Melker, crypto trader and host of WOAS Podcast, the cryptocurrency’s sharp rebound from $32,000 to above $38,000 confirmed two textbook bullish reversal indicators: Double Bottom and Falling Wedge.

Bitcoin Double Bottom

Starting with the Double Bottom, Mr. Melker highlighted two consecutive troughs in the Bitcoin four-hour (4H) chart, with a moderate peak in between. Such a structure points to repeated downside rejection by bears. Meanwhile, its vitality goes up if an asset bounces back from the second trough to close above the previous peak level.

Bitcoin, cryptocurrency, BTCUSD, BTCUSDT
Bitcoin has closed above the Double Bottom target—the pink line. Source: BTCUSD on TradingView.com
Bitcoin has closed above the Double Bottom target—the pink line. Source: BTCUSD on TradingView.com

So it appears, Bitcoin did the same during its rally on Friday, leading Mr. Melker to see an extending upside rally to complete the Double Bottom scenario. Bitcoin almost achieved the bullish reversal target by hitting the pink line near $34,880, as shown in the chart above, awaiting confirmation with a four-hourly close.

“The pink line [stands] broken, double bottom to be confirmed with a close above,” Mr. Melker noted, nevertheless. “Target around 41K shown. Trading range EQ also broke, should target range highs.”\

[Note: The Double Bottom target stands confirmed as of this press time.]

Falling Wedge

The other bullish reversal indicator, Falling Wedge, also hinted at a rally towards $41,000 or above after Bitcoin’s breakout move on Friday.

In retrospect, a Falling Wedge in an uptrend is a continuation pattern that occurs as the market contracts temporarily. The structure indicates the resumption of the uptrend. Again, this means that traders can look for potential buying opportunities when the price closes above the Pattern’s upper trendline.

Bitcoin did the same today. The cryptocurrency also closed above $36,000, a level with a recent history of capping upside gains. It pointed to a renewed buying enthusiasm above crucial price floors, hinting that traders may want to aim the Rising Wedge breakout targets to the upside.

Bitcoin, cryptocurrency, BTCUSD, BTCUSDT
Bitcoin Falling Wedge pattern pointing to a rally towards $50,000. Source: BTCUSD on TradingView.com
Bitcoin Falling Wedge pattern pointing to a rally towards $50,000. Source: BTCUSD on TradingView.com

Typically, an asset rises by as much as the maximum distance between a Wedge’s upper and lower trendlines. In Bitcoin’s case, the gap is more than $11,000-wide. That puts Bitcoin en route towards $50,000.

Tweet123Share196ShareSend
Yashu Gola
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN.

Read more

Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Ethereum news

Ethereum Will ‘Likely 100x From Here,’ Says Joe Lubin

Ethereum co-founder and ConsenSys CEO Joseph Lubin ignited ETH discourse on August 30 with an unusually expansive thesis about the...

Jake Simmons 3 hours ago
Bitcoin price crash

Pundit Calls Bitcoin Price Crash Below $93,000, Reveals Bear Targets From Here

After hitting a new all-time high last month, the Bitcoin price has since retraced by more than 10%, crashing below...

Scott Matherson 4 hours ago
xrp-breakout-trigger-100x-altcoin-launch-tw

XRP價格臨界爆升技術測試點 這個百倍山寨幣是否已經開始啟動?

XRP正處於技術面與基本面雙重壓力下,短期內價格走勢陷入下行通道。當前報價為2.81美元,24小時交易量達70億美元,市值排名第四,約為1668.9億美元。在連續無法有效站穩3.00美元之上後,市場懷...

markh 7 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

bitcoin-dominance-altcoin-season

Bitcoin dominance sous les 60 % : l’Altcoin Season est là

guillaumev 1 hour ago
Ethereum

Whales Load Up On Ethereum, But Analysts Fear $4K Dip Ahead

Christian Encila 1 hour ago
bitcoin

Μπορεί το Bitcoin να επιστρέψει στις $120.000; Τι δείχνουν οι κινήσεις στην αγορά

Ιωάννης Ριζόπουλος 2 hours ago

Premium Sponsors

Press Releases

  • XRP probija ključnu rezistenciju — može li Token6900 biti sljedeći koji će eksplodirati

    XRP probija ključnu rezistenciju — može li Token6900...

    20 minutes ago
  • Best -altcoins

    Ba Altcoin Bị Bán Quá Mức Nên Mua Khi Ethereum Lập...

    35 minutes ago
  • Aceste 3 Altcoinuri Explodează în Sezonul Actual – Bitcoin Hyper, Maxi Doge și Wepe SOL ar putea fi următorii generatori de milionari

    Aceste 3 Altcoinuri Explodează în Sezonul Actual –...

    48 minutes ago
  • 3 Altcoin Đang Bùng Nổ Mùa Altcoin Này

    3 Altcoin Đang Bùng Nổ Mùa Altcoin Này – Bitcoin...

    54 minutes ago
  • Pepenode.io

    Meme coin tiềm năng tiếp theo 100x? PEPENODE có thể...

    1 hour ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.