{"id":447709,"date":"2020-10-26T12:42:38","date_gmt":"2020-10-26T12:42:38","guid":{"rendered":"https:\/\/wncen.com\/?p=447709"},"modified":"2024-06-11T14:07:34","modified_gmt":"2024-06-11T14:07:34","slug":"monday-morning-bitcoin-bull-pennant-breakout-could-target-15k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/monday-morning-bitcoin-bull-pennant-breakout-could-target-15k\/","title":{"rendered":"Monday Morning Bitcoin Bull Pennant Breakout Could Target $15K"},"content":{"rendered":"

Bitcoin price<\/a> this morning is back well above $13,100 after an overnight plunge pierced below resistance turned support at $13,000. The rebound from support could be enough momentum to push the cryptocurrency higher toward $15,000. Here’s the current price action as it is developing, and what could result.<\/p>\n

Bitcoin Forms Bullish Pennant, Target $15K, But Retest Must Hold<\/h2>\n

Bitcoin price<\/a> just surged to retest highs around $13,200 after bulls held an important retest of support at $13,000 overnight. The leading cryptocurrency by market cap closed its highest weekly candle since the bear market began, but after the close started to tumble.<\/p>\n

Bulls were able to hold strong overnight, leading to renewed confidence on this Monday morning.<\/p>\n

Last week, the cryptocurrency made a strong intraday bullish impulse that led to a $1,000 daily increase<\/a>. After hitting resistance from 2019, Bitcoin has been consolidating in what appears to be a bull pennant chart formation.<\/p>\n

\"bitcoin<\/p>\n

Bitcoin bull pennant breaks to the upside, retest in progress. Is $15K next? | Source: BTCUSD on TradingView.com<\/a><\/pre>\n
These bullish chart patterns are characterized by a long pole moving upward, followed by a symmetrical triangle-like pattern forming the pennant. When the converging price action finally breaks out, another similar-sized move around the same height as the initial pole often follows.<\/p>\n
Related Reading | Bitcoin Could Be Just One Week Away From A New Monthly All-Time High Close<\/a><\/strong><\/em><\/p>\n
Bitcoin attempted a breakout late Saturday night, but failed and was pushed back into the structure. However, this morning’s breakout that took the crypto asset pumping $300 in a flash, has now retraced and appears to be holding.<\/p>\n
If the retest holds, the bull pennant could confirm, and Bitcoin could be trading at above $15,000 within just days to a week away. It’s also just days away from setting a new all-time high in terms of monthly candle close if the cryptocurrency can close the month over $13,950.<\/p>\n
Featured image from Deposit Photos, Chart from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price this morning is back well above $13,100 after an overnight plunge pierced below resistance turned support at $13,000. The rebound from support could be enough momentum to push the cryptocurrency higher toward $15,000. Here’s the current price action as it is developing, and what could result. Bitcoin Forms Bullish Pennant, Target $15K, But Retest Must Hold Bitcoin price just surged to retest highs around $13,200 after bulls held an important retest of support at $13,000 overnight. The leading cryptocurrency by market cap closed its highest weekly candle since the bear market began, but after the close started to tumble. Bulls were able to hold strong overnight, leading to renewed confidence on this Monday morning. Last week, the cryptocurrency made a strong intraday bullish impulse that led to a $1,000 daily increase. After hitting resistance from 2019, Bitcoin has been consolidating in what appears to be a bull pennant chart formation. Bitcoin bull pennant breaks to the upside, retest in progress. Is $15K next? | Source: BTCUSD on TradingView.com These bullish chart patterns are characterized by a long pole moving upward, followed by a symmetrical triangle-like pattern forming the pennant. When the converging price action finally breaks out, another similar-sized move around the same height as the initial pole often follows. Related Reading | Bitcoin Could Be Just One Week Away From A New Monthly All-Time High Close Bitcoin attempted a breakout late Saturday night, but failed and was pushed back into the structure. However, this morning’s breakout that took the crypto asset pumping $300 in a flash, has now retraced and appears to be holding. If the retest holds, the bull pennant could confirm, and Bitcoin could be trading at above $15,000 within just days to a week away. It’s also just days away from setting a new all-time high in terms of monthly candle close if the cryptocurrency can close the month over $13,950. Featured image from Deposit Photos, Chart from TradingView.com<\/p>\n","protected":false},"author":517,"featured_media":447741,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,1144,82859,78790,6664,4524,76835],"class_list":["post-447709","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-btcusd","tag-btcusdc","tag-btcusdt","tag-crypto","tag-xbt","tag-xbtusd"],"acf":[],"yoast_head":"\nMonday Morning Bitcoin Bull Pennant Breakout Could Target $15K<\/title>\n<meta name=\"description\" content=\"Bitcoin price this morning is back well above $13,100 after an overnight plunge pierced below resistance turned support at $13,000. 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Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.","sameAs":["https:\/\/coinchartist.io\/","https:\/\/www.instagram.com\/coinchartist_io\/","https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC","https:\/\/www.youtube.com\/@coinchartist_io"],"url":"https:\/\/wncen.com\/author\/tonymspilotro\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Monday Morning Bitcoin Bull Pennant Breakout Could Target $15K","url":"http:\/\/wncen.com\/news\/monday-morning-bitcoin-bull-pennant-breakout-could-target-15k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/monday-morning-bitcoin-bull-pennant-breakout-could-target-15k\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/bitcoin-bull-pennant-Depositphotos_2271865_xl-2015-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/bitcoin-bull-pennant-Depositphotos_2271865_xl-2015-scaled.jpg?fit=2560%2C1707"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Tony \"El Toro\" Severino"}],"creator":["Tony \"El Toro\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","btcusd","btcusdc","btcusdt","crypto","xbt","xbtusd"],"dateCreated":"2020-10-26T12:42:38Z","datePublished":"2020-10-26T12:42:38Z","dateModified":"2024-06-11T14:07:34Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Monday Morning Bitcoin Bull Pennant Breakout Could Target $15K\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/monday-morning-bitcoin-bull-pennant-breakout-could-target-15k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/monday-morning-bitcoin-bull-pennant-breakout-could-target-15k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/10\\\/bitcoin-bull-pennant-Depositphotos_2271865_xl-2015-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/10\\\/bitcoin-bull-pennant-Depositphotos_2271865_xl-2015-scaled.jpg?fit=2560%2C1707\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"El Toro\\\" Severino\"}],\"creator\":[\"Tony \\\"El Toro\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"btcusd\",\"btcusdc\",\"btcusdt\",\"crypto\",\"xbt\",\"xbtusd\"],\"dateCreated\":\"2020-10-26T12:42:38Z\",\"datePublished\":\"2020-10-26T12:42:38Z\",\"dateModified\":\"2024-06-11T14:07:34Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/bitcoin-bull-pennant-Depositphotos_2271865_xl-2015-scaled.jpg?fit=2560%2C1707","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/447709"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/517"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=447709"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/447709\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/447741"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=447709"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=447709"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=447709"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}