Bitcoin failed to extend gains above $9,200 and started a downside correction against the US Dollar. BTC price tested the $8,500 support and it could bounce back.
Bitcoin price is down more than 5% from the $9,186 high against the US Dollar.
The $8,500 support area could play an important role in the coming sessions.
There was a break below a major ascending channel with support near $8,830 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could either bounce back from $8,500 or extend its decline towards $8,000.
Bitcoin Holding Key Uptrend Support
Yesterday, we discussed a crucial breakout pattern in bitcoin above $8,500 on the daily chart against the US Dollar. BTC price extended gains above $9,000, but it struggled to clear the main $9,200 and $9,300 resistance levels (as pointed out yesterday).
A new 2020 high was formed near $9,186 before the price started a sharp decline. There was a break below the $9,000 and $8,800 support levels. Besides, there was a break below a major ascending channel with support near $8,830 on the hourly chart of the BTC/USD pair.
Bitcoin Price
It opened the doors for more losses below the $8,800 support and the 100 hourly simple moving average. Finally, bitcoin tested the key $8,500 support area, where the bulls took a stand.
A low is formed near $8,473 and the price is currently recovering. It traded above the 23.6% Fib retracement level of the recent slide from the $9,186 high to $8,473 low.
On the downside, the main uptrend support is near the $8,500 level. If there is a downside break below the $8,500 support, the price could extend its correction towards the $8,000 pivot level. Any further losses below $8,000 might start a downtrend in the near term.
BTC Could Bounce From $8,500
If BTC price stays above the $8,500 support, it is likely to start a fresh increase. The first key resistance is near the $8,800 area and the 100 hourly simple moving average.
Additionally, the 50% Fib retracement level of the recent slide from the $9,186 high to $8,473 low is also near the $8,830 level. Therefore, bitcoin must surpass the $8,880 area to resume is uptrend towards $9,200 and $9,500 in the coming days.
Technical indicators:
Hourly MACD – The MACD is losing momentum in the bearish zone and turning bullish.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently near 40 and struggling to rise towards 50.
Major Support Levels – $8,500 followed by $8,000.
Major Resistance Levels – $8,800, $8,830 and $9,200. The post appeared first on NewsBTC. origin »
Bitcoin price has remained under pressure in the past few months as it moved into a technical bear market after falling by 20% from its highest level this year. Bitcoin (BTC) and other altcoins have important catalysts that may push…
Bitcoin’s second-worst February on record is set to extend into a new week, with price burdened by “aggravating macro factors” and a technical correction.
Bitcoin price remains in a technical correction, and the ongoing correction could persist for a few weeks. Bitcoin (BTC) bottomed at $82,177 this week as it briefly moved into a bear market. It has since crawled back to $86,200 following…
The price of Bitcoin has been going down, breaking below the key 3-month support at around $90,000. The coin now trades at around $86,000. It has declined by 10% in the last 3 days. Solana has also followed in the same direction.
The cryptocurrency market has gone mainstream. It is no longer retail investors’ assets as institutions globally are investing in Bitcoin and other major cryptocurrencies. As a risk-based asset, Bitcoin’s price is affected by central bank policies, especially those from the United States Federal Reserve.
Will this legacy cryptocurrency become bullish once again? Let’s find out in this Bitcoin Cash price prediction. Bitcoin Cash is a cryptocurrency associated with Bitcoin, yet it hasn’t performed like the leader of all cryptocurrencies. Its price action has lagged…
The recent drop in Bitcoin price to $95,000 has gotten traders worried and made them reconsider their plans. A major crypto analyst, Arthur Hayes has warned traders to be aware of an incoming loss. While Bitcoin price is having a hard time growing, a new altcoin called RCOF is gaining a lot of attention. Experts [...]
Crypto traders can be reasonably happier today than yesterday after experiencing the worst crash in history with over $2. 3 billion liquidated within 24 hours. However, Bitcoin price quickly rebounded from $91k to over $100k while Ethereum managed to recover from $2.
Bitcoin price surged to $102K as buying pressure increased, signaling sustained upward momentum
Strong market participation and positive sentiment suggested Bitcoin may challenge new resistanceThe post Bitcoin: How can BTC push its price past the $106k resistance? appeared first on AMBCrypto.
Through a series of gains and losses in the past week, the price of Bitcoin (BTC) recorded no significant overall change indicating widespread market uncertainty despite the inauguration of pro-crypto Donald Trump as US President.
Bitcoin is facing a key resistance at $106k, while testing critical support at $101k
NVT golden cross at -2.21 historically signals local bottoms and potential price reversal
Bitcoin [BTC], The post Bitcoin - Where are the signs of a local bottom and a price reversal? appeared first on AMBCrypto.
Bitcoin price surged to reclaim the $100,000 level on Jan. 15 as the flagship digital asset emerged from a turbulent start to the year. After weathering bearish pressure near the $90,000 area this past week, Bitcoin (BTC) price steadily climbed…
The Bitcoin price has struggled to break above the $100,000 threshold decisively over the past four weeks, largely fluctuating within the $90,000 to $100,000 range. This correction and lackluster price action have caused a degree of bearish sentiment among traders, with some speculating that Bitcoin might have already reached its peak for the current cycle. […]
Bitcoin price is consolidating losses below the $95,500 zone. BTC is showing bearish signs and might struggle to recover above the $95,800 level. Bitcoin started a recovery wave from the $91,150 zone.
Although Bitcoin’s recent price drop led many to wonder whether this is the end of its euphoria. However, as it’s looking to turn out, all BTC really did was go into healthy consolidation after a big move in December.
Bitcoin Cash has formed a sell signal on its MACD indicator, which could cause a price decline to $365.
Despite the bearish trends, traders on Binance are betting on further price increases.
Bitcoin tested the $92,000 level yesterday after falling from a weekly high of $102,000 as sell pressures mounted. Macroeconomic factors cause doubts about the market strength as sticky inflation becomes a concern.
The price of Bitcoin has shown no significant movement in the past day following a price rebound at the start of January 2025. Currently trading near $98,000, speculation is mounting about whether Bitcoin has exited its correction phase, with high expectations of an impending bull market.
Although Bitcoin is having a rough moment this week, with prices oscillating between $93k and $96k, at least one popular crypto commentator is predicting a massive price run soon. According to Ted Boydston, the market should prepare for a manic bull run in the coming days, with Bitcoin’s price targeting $225k.
Bitcoin stands at a critical crossroads, with its price hovering near the crucial $93,257 support level. This key price point has acted as a stronghold for the cryptocurrency during its recent ascent, but now, the market is facing mounting pressure.
Bitcoin price has moved into a technical correction and found support at the 50-day moving average. Bitcoin (BTC) retreated to $94,830, down by over 12% from its highest level this month as the Santa Claus rally failed to materialize. The…
Over the last few weeks, the Bitcoin price has been on a downward trend, experiencing significant declines that have pushed it below its all-time high above $104,000. Despite this price crash, a crypto analyst has predicted that Bitcoin could recover from this slump and potentially reach a new ATH at $107,000.
Crypto analyst TradingShot has provided insights into the Bitcoin price recovery to $150,000. He analyzed the Fibonacci levels to provide insights into how Bitcoin could reach this new high, although the analyst suggested that there could be more price correction before that happens.
Bitcoin needs to dip much harder to deliver even standard December downside, data shows, as BTC price targets continue to focus on the mid-$80,000 area.
Bitcoin has endured days of underwhelming price action, retreating from its all-time high of $108,364 to a local low of $92,100. Despite this sharp pullback, the price structure remains bullish, fueling optimism among analysts and traders who believe Bitcoin’s rally could resume at any moment.
Bitcoin’s price reached a new all-time high of $108,000 this month, which has seen retail and institutions FOMO into BTC. Bitcoin’s trading volume now sits at a daily rate of about $77 billion, indicating increased inflows.
Bitcoin price has had a strong performance this year as it jumped by 120%, beating popular assets like the Nasdaq 100 and the S&P 500 indices. Bitcoin (BTC) has retreated to $97,000 from the all-time high of $108,427 after the…
Veteran trader Peter Brandt updated his Bitcoin price outlook in a recent viral tweet. Looking at Brandt’s chart analysis, a clear right-angled broadening triangle pattern has emerged in Bitcoin’s recent price action.
Bitfinex analysts believe the increasing Bitcoin institutional adoption will create strong demand-side pressure, making Bitcoin price dips in 2025 short and temporary.
Bitcoin price rallied to a record high of $108,000 on Dec. 17, continuing a bull run that began in 2023. Bitcoin (BTC) has surged by nearly 150% this year, driven by rising demand and decreasing supply growth. The unwinding of…
Bitcoin has shattered its all-time high, reaching $106,500 just a few hours ago, setting the stage for an even bigger move. After trading in a sideways range within an ascending triangle for weeks, the price finally broke through the crucial $103,600 resistance level established on December 5.
The Bitcoin price has continued its foray above the $100,000 threshold and is currently trading around new all-time highs. Following its recent surge to an all-time high (ATH) above $106,000, the Bitcoin price has played out an interesting pattern on the 1-day candlestick timeframe, which points to an extremely bullish outlook for the leading cryptocurrency.
The Bitcoin price performance in 2024 is one for the history books, with the premier cryptocurrency crossing the $100,000 mark for the first time ever. However, hitting this milestone opened the door to another conversation — when will the market top be in? As a result, several predictions of the Bitcoin price top have emerged […]
Since breaking it last week, Bitcoin is grappling with the $100,000 milestone, struggling to stay above this critical level. Despite the price facing resistance, Bitcoin continues to show strength, signaling potential for further upward momentum in the near term.
Despite the Bitcoin price cooling off, President-elect Donald Trump’s son still believes BTC will someday reach the oft-discussed $1,000,000 price point.
The Golden Ratio Multiplier, a Bitcoin-specific indicator created by Philip Swift, highlights $100,000 as a critical resistance level. This analysis explores how Fibonacci multiples of the 350-day moving average provide key insights into Bitcoin's price cycles, with $127,000 emerging as the next major target if this barrier is broken.
The past week proved eventful for Bitcoin (BTC) holders after a historic price gain above $100,000 was accompanied by a flash crash of almost 7% pushing the asset’s price as low as $92,000 on early Friday.
Bitcoin has shattered all-time highs again, breaking the $100,000 barrier for the first time and surging to $103,620. This remarkable milestone marks a price level many thought impossible, solidifying Bitcoin’s position as a dominant force in global finance.
Bitcoin hit a new all-time high of $100,000 for the first time in history after the price increase of 5% on the day of trading. Bitcoin (BTC), the world’s largest cryptocurrency by market capitalization, just hit a targeted price of…
Bitcoin’s price has entered a volatile trading range between $78,000 and $82,000 as bullish momentum fades and traders react to shifting macroeconomic conditions. After briefly reclaiming $90,000 last week, a “sell-the-news” reaction to developments like the US Strategic Bitcoin Reserve…
Robert Kiyosaki, the “Rich Dad Poor Dad” author, has stated that the “biggest stock market crash” he predicted in his 2014 book “Rich Dad’s Prophecy” has now arrived.
The crypto market continues its bearish trend with Bitcoin dropping below $83,000. Certain altcoins, however, are surging. At last check, CoinGecko data shows Bitcoin (BTC) is down 4. 4% over the last 24 hours.
Bitcoin advocate and JAN3 CEO Samson Mow has accelerated his Bitcoin price prediction. He suggested that it could reach $1 million earlier than his model’s original 2031 forecast. Mow cites the unprecedented White House support for Bitcoin (BTC) as a…
The U.S. government's potential Bitcoin reserve could position it as a leader in crypto regulation, impacting global financial strategies.
The post Trump’s Treasury Secretary Scott Bessent says Bitcoin acquisition plans are in discussion appeared first on Crypto Briefing.
The creation of a strategic Bitcoin reserve signals a significant shift in U.S. digital asset policy, potentially impacting global crypto markets.
The post Trump signs executive order to create a strategic Bitcoin reserve and digital asset stockpile appeared first on Crypto Briefing.
Creating a national digital asset stockpile could shift US financial strategy, impacting crypto markets and requiring significant legislative support.
The post Trump may use seized Bitcoin and crypto assets to create US digital asset stockpile appeared first on Crypto Briefing.
