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: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
  • 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: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Failed H&S Pattern Puts This Cryptocurrency En Route to Record Levels

Yashu Gola
Yashu Gola
5 years ago
2 mins read
xtz, bitcoin, xtzbtc, btcusd

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.

  • XTZ, the native cryptocurrency of the Tezos blockchain platform, recently defeated a long-standing Head & Shoulder pattern.
  • If successful, the bearish technical indicator could have crashed XTZ to as low as 523 sats.
  • Its failure now puts the crypto en route to record highs.

XTZ is trading almost 28 percent lower from its all-time high at 4,073 sats, but the cryptocurrency has enough fuel to retest the top.

The upside sentiment for the Tezos blockchain’s native asset takes cues from its recent response to a bearish technical indicator. Since it started trading in 2019, the XTZ/BTC daily chart was gradually forming a Head & Shoulder pattern, hereto H&S.

The classic indicator appears after an asset form three price highs, with the middle peak highest than the other two. Meanwhile, these peaks stand on a price floor called the neckline. Together, they appear like two shoulders with one head in the middle, which explains the term H&S.

A Winning Cryptocurrency

Traders perceive H&S as a bullish-to-bearish trend reversal indicator. Despite its standalone limitations, the pattern is prevalent in predicting an asset’s potential negative breakouts and their downside targets. XTZ was making a similar indicator on its bitcoin-focused chart, as shown below.

xtz, bitcoin, xtzbtc, btcusd
H&S formation on the Tezos token’s chart | Source: TradingView.com, Binance

The circled peaks represent XTZ’s head and shoulders, while the red ascending trendline is its neckline. After confirming the Right Shoulder peak on April 25, 2020, the XTZ/BTC rate corrected lower to retest the redded floor.

Ideally, the pair could have broken below it to establish a downward breakout move to as low as 523 sats – the price target of the H&S pattern. But instead, it established the neckline as its support, invalidating the technical indicator entirely.

The price jumped by as much as 21 percent after testing the red line.

The overall move verified the redded Ascending Trendline as a crucial support level for XTZ. A favorable buying sentiment near the line kept the cryptocurrency from dwelling into risky bearish territories. As a result, XTZ remains one of the best performing crypto tokens in 2020, beating even its top rival, Bitcoin.

What’s Next

Supported by optimistic fundamentals, XTZ would most likely retest the red trendline for a pullback towards its 23.6% Fibonacci level – at 3,085 sats. Meanwhile, a break above the said resistance would set its upside target towards 3,769-4,073 sats range.

Bitcoin’s corrective sentiments could also support XTZ’s uptrend. As the top crypto remains capped by its long-term Descending Trendline, it would move profit-seekers to the altcoin market, benefitting rivals like Tezos and Ethereum.

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

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

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

Bitcoin

Bitcoin Price Break Above $118,000 Just The Start, Analyst Unveils ‘Golden Number’

Bitcoin has rallied massively over the past seven days by posting an impressive price gain of nearly 9% after climbing...

Scott Matherson 11 hours ago

Pi Network Turns Heads With Symbolic Transfers, $20M Volume Spike

The Pi Network coin dipped to $0.46 today, slipping 6% in the past 24 hours. Yet trading volume jumped to...

Christian Encila 12 hours ago

Web2 Habits, Web3 Rewards: How FUNToken Makes Crypto Feel Natural

Millions of users spend hours each day engaged with mobile games, chat communities, and social platforms. They expect seamless interfaces,...

News BTC 12 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

Gemini分析比特幣升勢帶動示新牛市周期 Bitcoin Hyper等Layer 2項目引爆關注!

Kelvin Lee 3 hours ago
Cardano price

Cardano Price Explodes 30% In Past Week — Analyst Calls $5 Next Market Top

Opeyemi Sule 4 hours ago
Bitcoin

Bitcoin Bulls In Cloud 9? Analyst Identifies Where Risk Lies

Opeyemi Sule 8 hours ago

Premium Sponsors

Press Releases

  • ビットコインが11万8,000ドルの最高値を記録する中で注目すべき仮想通貨プレセール

    ...

    12 hours ago
  • 仮想通貨 おすすめ|急騰するDogwifhatとFartcoin、注目の低価格ミームコインとは?

    仮想通貨...

    12 hours ago
  • 新しい仮想通貨価格動向|話題の最新コインの成長可能性

    ...

    12 hours ago
  • アルトコイン注目銘柄|2025年7月第2週に見るべき3銘柄

    ...

    12 hours ago
  • ロビンフッドが1ドルから始めるETHとSOLのステーキングを開始──今注目の仮想通貨投資はこれだ?

    ...

    12 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

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.