The most talked-about event last week was the Westward Texas Intermediate crude futures for May delivery, which plunged to negative $37.63 per butt on Apr 20. That was followed by a abrupt rebound, which helped crude oil recover to $17.31 by the cease of the calendar week. Crude oil's volatility surpassed that of Bitcoin (BTC) in mid-March and has only climbed higher since then. Several energy traders are likely to have suffered huge losses due to the roller coaster ride in oil.

Crypto market data daily view

Crypto market place information daily view. Source: Coin360

While Bitcoin is likely to hog the limelight this week, a few altcoins have also formed bullish patterns. This suggests that if Bitcoin prices remain strong, these altcoins could also move higher. Then, let's look at the top five bullish setups that could offer short-term trading opportunities this calendar week.

XLM/USD

Stellar Lumens (XLM) rallied and closed (UTC time) in a higher place the overhead resistance of $0.053194 on Apr 22, which completed a bullish ascending triangle design. This setup has a target objective of $0.076388.

XLM-USD daily chart

XLM-USD daily chart. Source: Tradingview

Unremarkably, when the cost breaks out of a bullish setup, information technology tends to render and retest the breakout level. Still, in some cases, the momentum is and so strong that the price only consolidates for a few days so resumes its upwardly motion.

Both moving averages are sloping up and the relative strength alphabetize is trading in the overbought zone, which suggests that bulls have the upper hand.

The XLM/USD pair has also been consolidating to a higher place the immediate psychological support of $0.060 for the past 2 days. This indicates that the bulls are not closing their positions in a hurry every bit they expect higher levels in the next few days.

XLM-USD 4-hour chart

XLM-USD 4-hour chart. Source: Tradingview

The sharp rise from close to $0.050 to $0.066102 shows a flagpole formation. Following the sharp up move, the XLM/USD pair has fabricated a pennant, which usually acts as a  continuation pattern.

A stiff breakout of the pennant signals the possible resumption of the up move. The bulls broke higher up the pennant but are struggling to hold on to the breakout. This suggests selling at college levels.

Therefore, the traders can wait for the price to shut (UTC time) higher up $0.063327 before buying. The initial stop loss tin can be kept at $0.060. As the cost moves northwards, the stops can be trailed college to reduce the chance and protect the paper profits.

The bears might aggressively defend the overhead resistance at $0.066102 just if this level is crossed, the move tin can extend to $0.073 and so to $0.078.

ADA/USD

Cardano (ADA) broke in a higher place the double height that was forming at $0.0369205 on April 23. This attracted buyers and the altcoin rallied to the next overhead resistance at $0.0437998 on April 24.

ADA-USD daily chart

ADA-USD daily chart. Source: Tradingview

Later on a twenty-four hour period of consolidation on April 25, when the ADA/USD pair formed an inside day candlestick blueprint, the bulls take broken to a higher place the resistance of $0.0437998. Yet, the bears are unlikely to surrender without a fight as they are mounting stiff resistance at higher levels.

With both moving averages sloping up and the RSI in the overbought zone, the advantage is with the bulls. If the bulls can sustain the price above $0.0437998, it could result in a rally to $0.052 and and so to $0.061 in the next few days.

ADA-USD 4-hour chart

ADA-USD four-hour chart. Source: Tradingview

The 4-hour chart shows a flagpole that formed after the pair broke higher up $0.0369205. That was followed by a pennant germination as the bears defended the overhead resistance at $0.0437998.

Even so, today, the bulls accept broken above the pennant and have pushed the cost to a higher place the overhead resistance at $0.0437998. Therefore, the bulls tin buy at the electric current levels with an initial cease loss at $0.0412, which can be trailed higher as the pair moves up.

The first target to watch on the upside is $0.0504 where partial profits can be booked. This bullish view volition be invalidated if the bears sink the price below $0.04192.

BTC/USD

Bitcoin (BTC) has been leading the recovery from the front. With the halving approaching, the leading cryptocurrency is likely to remain in focus next week. On April 23, the bulls broke above the critical resistance of $vii,454.17.

BTC-USD daily chart

BTC-USD daily chart. Source: Tradingview

However, the BTC/USD pair has not been able to pick upwardly momentum as the bears are aggressively selling on any rise. But the positive thing is that the bulls have been maintaining the toll above the breakout level of $seven,454.17, which indicates strength.

Both moving averages are sloping upward and the RSI has broken to a higher place the 60 marking for the showtime fourth dimension since mid-Feb., which shows that bulls have the upper hand. The next level to sentry on the upside is the $eight,000-$8,146.84 resistance zone.

BTC-USD 4-hour chart

BTC-USD 4-hr nautical chart. Source: Tradingview

Bitcoin had been trading in a tight range of well-nigh $vii,605-$7,435 for the by few days. Attempts to interruption above or below the price range did not sustain. Even today, the bulls broke in a higher place the range but the cost has again slipped back into it. This shows aggressive selling by the bears at higher levels.

Along with the range, a pennant germination can also be seen on the charts. The bulls purchased the dip below the pennant today, which suggests stiff buying at lower levels. If the bulls tin push the price higher up the pennant, the upwardly move is likely to resume. The target objective of this breakout is $viii,393.25.

Therefore, the bulls tin buy on a breakout and close (UTC fourth dimension) above the pennant. The initial stop loss can be kept at $7,380, which tin can be trailed higher later on the pair moves above $vii,740.37. If the bulls struggle to intermission above $8,000, the stops tin exist tightened further. This bullish view volition be invalidated if the pair turns around and breaks below $7,435.47.

BCH/USD

Bitcoin Greenbacks (BCH) has largely been range-spring between $200 and $250 for more than a month. The lone attempt to button the price above the range on April half-dozen turned around from $280.47 on April 08.

BCH-USD daily chart

BCH-USD daily nautical chart. Source: Tradingview

When the price consolidates for a long time, it unremarkably culminates with a strong breakout. In this case, if the bulls can propel the price in a higher place $250, the BCH/USD pair is likely to pick upward momentum and rally to $300.

On the other hand, if the pair again turns downwards from $250, the range-jump activity could extend for a few more days. The trend will turn negative on a break below $200 as it will complete a bearish head and shoulders pattern, which could result in a retest of the recent lows at $141.xi.

BCH-USD 4-hour chart

BCH-USD iv-60 minutes chart. Source: Tradingview

Though the pair is stuck in a trend, the traders can spot an ascending triangle blueprint. This bullish setup volition complete on a breakout and shut (UTC time) above $250. Therefore, the traders can buy on a close in a higher place $250 and keep a finish loss at $225.

The bulls might face a stiff resistance at $280.47, hence, the traders tin can tighten the stops closer to this level. Even so, if this level is crossed, the up motility can reach $300 and then $320.

If the price turns down from the current levels, the traders might go another buying opportunity near the trendline of the ascending aqueduct. However, if the bears sink the toll below the trendline, long positions can be avoided.

HT/USD

Huobi Token (HT) has recovered sharply from its recent lows of $1.18361, which shows strong demand at lower levels. For the by few days, $4.05 has been interim equally a potent overhead resistance.

HT-USD daily chart

HT-USD daily chart. Source: Tradingview

Even so, both moving averages have been gradually moving higher and the RSI is in the positive territory, which suggests that bulls have the upper paw.

The HT/USD pair has also formed a bullish ascending triangle blueprint, which will complete on a breakout and close (UTC time) to a higher place $four.05. The pattern target of this setup is $4.58. If this level is crossed, the up move tin extend to $four.80.

Conversely, the failure to sustain the price above $four.05 will keep the pair within the triangle for a few more days.

HT-USD 4-hour chart

HT-USD four-hour nautical chart. Source: Tradingview

The bulls bankrupt in a higher place the overhead resistance of $four.05 today just they have not been able to sustain the breakout. This suggests selling at higher levels. However, the positive sign is that the bulls have not allowed the price to sink below the support at $3.90.

This suggests demand at lower levels. The bulls are over again likely to attempt a breakout above $4.05. If the pair can close (UTC time) above $4.05, the ascending triangle pattern will consummate and a rally to $4.58 is possible.

Therefore, traders can buy on a close (UTC time) above $4.05 and continue a stop loss of $3.lxxx. The bears might attempt to stall the rally in the $4.15-$4.20 resistance zone. If the traders find that the bulls are struggling to push the cost in a higher place this zone, the stops can exist tightened to reduce the risk.

The views and opinions expressed here are solely those of the author and do non necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, yous should conduct your own inquiry when making a decision.

The market data is provided by the HitBTC commutation.