Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
The Bitcoin price may be on the verge of hitting new all-time highs as a crypto analyst has unveiled the emergence of a new technical indicator called the \u201cBird Beak Sign.\u201d Spotted on the Bitcoin Heikin Ashi chart, the analyst suggests that this technical pattern indicates a potential price rally is imminent.\u00a0 \u2018Bird Beak\u2019 Pattern Signals Path To $100,000 Optimism in the crypto community is soaring as a popular crypto analyst, \u2018Trader Tardigrade\u2019 has shared a bullish prediction for Bitcoin\u2019s price outlook. In an X (formerly Twitter) post, the analyst uncovered a distinct technical pattern known as the \u201cBird Beak sign\u201d in the Bitcoin Heikin AshiBitcoin Heikin Ashi chart, which is a type of candlestick chart used to spot market trend direction and predict future prices.\u00a0 Related Reading: Dogecoin Price Flashes Bullish Pennant On Daily Heikin Ashi Chart, What This Means The Bird Beak Sign is a distinct chart pattern that resembles a beak and is created when the Heikin Ashi candlesticks cluster together in a tight consolidated range. Typically when a cryptocurrency consolidates, it means that its price is stabilizing before a potential rally upwards. In the case of Bitcoin, the recent Bird Beak pattern suggests consolidation is preceding an upward momentum.\u00a0 The analyst notes that in the past when Bitcoin showed the Bird Beak sign on the daily Heikin Ashi chart, it was followed by a strong uptrend. This upward movement was represented by multiple green candles, which showed upward movement.\u00a0 Sharing a price chart, Trader Tardigrade disclosed that on 2nd January 2023, a Bird Beak sign had appeared in the Bitcoin chart, triggering a price surge to $23,250 at the time. This same chart pattern was also observed on the 7th and 25th of February, 2024, with Bitcoin skyrocketing to $52,000 and reaching between $71,000 to $72,000, respectively.\u00a0\u00a0 Trader Tardigrade has revealed that the present Bird Beak sign seen in Bitcoin\u2019s Heikin Ashi chart formed on 27 October 2024. Based on these past signs, analysts have predicted that the new Bird Beak pattern could lead to another sharp increase for Bitcoin, potentially pushing its price to $114,000 this month.\u00a0 Analyst Expects Bitcoin Price To Hit $71,000 First In a more recent X post, Trader Tardigrade revealed that Bitcoin was breaking out of a Symmetrical Triangle at the tip of its 8-hour Heikin Ashi chart.\u00a0 Based on this new symmetrical triangle pattern, the analyst forecasts that a successful breakout could lead to a rally towards the $71,000 price target for Bitcoin.\u00a0 Related Reading: Dogecoin Price To $24? Analyst Says No One Will Believe It Until It Happens This bullish sentiment is shared by another popular analyst known as the \u2018Titan of Crypto,\u2019 who also projects Bitcoin\u2019s next target at $71,000. This analyst has predicted that Bitcoin will reach this new target before the month closes, highlighting that the cryptocurrency\u2019s monthly candle is looking significantly strong. It\u2019s important to note that as of writing, the price of Bitcoin is trading at $67,856, marking a 1.3% increase in the past 24 hours, according to CoinMarketCap.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":644164,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[167,428,656,679,1119,89185,1122,1144,78790,6664,26263,14690],"class_list":["post-650204","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-analyst","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-analyst","tag-crypto-news"],"acf":[],"yoast_head":"\n
'Bird Beak Sign' Appears On Bitcoin Price Heikin Ashi Chart, Analyst Explain What This Means<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n