Bitcoin forms a W-shaped reverse pattern: Is it time to buy Bitcoin Pepe?

Bitcoin forms a W-shaped reverse pattern: Is it time to buy Bitcoin Pepe?

• Bitcoin increases by 11 % of $ 74,400, forms a W-shaped pattern.
• BTC must increase with a high volume of over 90,000 $ to confirm a repentance.
• Bitcoin Pepe (BPEP), which combines the liquidity of Bitcoin with the charm of Memecoins, offers a convincing investment option, while BTC is recovering.

Bitcoin (BTC) recently experienced a significant increase in over 11 % from its low on April 7 from $ 74,400 to almost $ 84,000, which arouses again interest in investors and analysts.

In the course of this price increase, the legendary technical analyst John Bollinger identified a potential W-shaped reverse pattern in the weekly chart, which indicates a possible bullish turn for cryptocurrency.

Classic Bollinger Band W Bottom Setting Up in $ Btcusd . Sill Needs Confirmation. https://t.co/v1qfbbeodv
Remember: The Maddsters Are Legion. I wants never you for anyding. #bollingerbands #Btc

- John Bollinger (@BBands) Bitcoin Pepe (bpep), as a meme-fokussed Layer-2 solutions on Bitcoin, which offers a fresh investment option in connection with the future of BTC.

Bitcoin forms a W-shaped reverse pattern

The recent price movements of Bitcoin fascinated technical analysts and put a W-shaped reverse pattern in the weekly chart into the spotlight.

This pattern was created with two clear valleys - initially the price in March fell to around $ 76,600 and then in April at $ 74,400 - which indicates a possible floor formation of the market.

In addition, the lower Bollinger band, which is located at $ 77,138, has made decisive support and underlined the importance of this price zone.

John Bollinger, known for his Bollinger ligaments, suggests that a strong increase over the swing high would confirm a W-floor with robust volume.

If this is done, Bitcoin (BTC) could target the neck level at $ 88,800, whereby a completed pattern could possibly drive the prices to $ 106,000.

Onchain data of Glassnode support these views and show a "short-term exhaustion of the sellers", since the realized losses with every price return shrink.

This decreasing sales pressure indicates an upcoming change that could result in bullish swing.

Analysts such as Alphabtc and Rekt Capital emphasize that keeping levels over $ 81,500 and $ 80,500 is crucial for sustainable relaxation.

Bitcoin Pepe: A memorial option on Bitcoin

While Bitcoin indicates a possible repentance, investors focus on related activities, with Bitcoin Pepe (BPEP) standing out.

BPEP is a Layer 2 solution based on Bitcoin and combines the safety of the blockchain with Solana-like speed and low fees, tailor-made for enthusiasts of memoins. The innovative PEP-20 token standard enables the creation and trade of Memecoins directly on Bitcoin, a groundbreaking turn in the crypto world.

By using the massive liquidity of Bitcoin in the amount of $ 2 trillion, BPEP aims to combine the viral stimulus of memoins with the stable basis of BTC, which could potentially attract significant interest in retail.

Current in the Eighth Advance phase , BPEP has collected $ 6,518,786, with Tokens currently increasing at $ 0.0295 and in the next step to $ 0.031.

The token economy of Bitcoin Pepe stipulates that 50 % of the total offer of 2.1 billion is used for advance sales, 15 % for staking and rewards as well as 10 % for liquidity, development and marketing to promote a sustainable ecosystem

checks by Solidproof and guided by web3 experts like Nate Sherrod and Collin Ford, promises BPEP Layer-2 improvements, trading lists, a bridge and its own dex. This ambitious plan signals a strong commitment to growth.

The purchase of BPEP Now could enable investors to benefit from a possible increase in price from Bitcoin, which could increase the visibility and value of the project in the BTC ecosystem.

A confirmed W pattern at Bitcoin could strengthen confidence in the overall market and indirectly improve BPEP's perspectives, while attention is drawn to Bitcoin-based innovations.

However, caution is required, since the risks of pre -sale investments and the volatility of memoins should be taken into account in the face of possible execution hurdles or market fluctuations.

Nevertheless, for those who are looking for a diversification with a mixture of meme culture and the persistent strength of Bitcoin, offers a convincing case .

It is a unique opportunity to combine the extensive liquidity of Bitcoin to the playful attraction of Memecoins.

The article Bitcoin forms W-shaped reverse pattern: is the time to buy Bitcoin Pepe now? first appeared on coin journal.