Bitcoin price has been smashing through each overhead resistance level with relative ease throughout this entire 2020 rally thus far.
However, the latest push above $9,800 was met with a powerful rejection that sent Bitcoin price back over $200 in a matter of minutes. Could this be the first sign of a reversal?
Bitcoin Price Fails to Breach $9,800 on First Attempt, What Happens Next?
Bitcoin price has rallied well over 50% from lows set back in December 2019 around $6,400. After six months of a downtrend, the rally took many crypto investors by surprise.
The rally has caused Bitcoin to reclaim the 200-day moving average and it has flipped other key resistance levels into strong support.
Related Reading | Bitcoin is Setting Up For a Violent Long Squeeze, Which May Trigger New Lows
Just like the rally from $3,100 to $14,000 smashed through resistance levels many thought would be impenetrable, Bitcoin has sliced through resistances throughout the $8,000 and $9,000 range with relative ease and has been well on its way toward a retest of the “FOMO trigger” level of $10,000.
But before Bitcoin price could reach $10,000, it was just swatted back by a powerful, $200 rejection in a matter of minutes.
The hourly candle on Bitcoin price charts shows a candle resembling the lightsaber of Star Wars character Darth Maul, with a long wick at either end.
The 5M chart shows that within 25 minutes of price action, Bitcoin had lost over $200 in value.
Key Levels To Watch For a Bull Market Breakout
The leading cryptocurrency by market cap made another attempt to climb higher as more and more crypto investors enter “buy the dip” mode. However, bears continue to hold the cryptocurrency under $9,800 and push for a reversal to the ongoing uptrend.
If bears are successful in defending $9,800, bulls will need to prove support at $9,500 is strong enough to maintain the rally’s legs, or else another attempt at $10,000 may be put off for a while, while Bitcoin price cools off and refuels its jets.
Related Reading | Rally Over? Latest Bitcoin Price Action Resembles Aggressive Distribution Model
However, if bulls can hold here, and push Bitcoin through resistance at $9,800, an attempt at $10,000 would be a guarantee, and any break of that critical level would likely spark a full-on bull run.
Bitcoin price would still have to contest with where it was rejected from back in the summer of 2019, at around $14,000. Above there, the only major resistance that lies between a revisit to the all-time high of $20,000 would be $17,000. Beyond those two levels, the sky is the limit for Bitcoin, which could theoretically hit highs of over $100,000 at the next bull market peak. The post appeared first on NewsBTC. origin »
Since the short squeeze in mid-December, Bitcoin has yet to make any significant price gain, facing multiple rejections at the $90,000 price zone. The maiden cryptocurrency is presently consolidating within the $87,000, while investors patiently anticipate a clear market direction.
Crypto chartist Ali Martinez has pointed out a potential downtrend on the Bitcoin price chart. According to him, the price of Bitcoin could dump to $40k based on a historical pattern. In other news, investors are jumping ship to DeepSnitch AI.
Bitcoin has continued to trend lower on the back of selling pressure building across the market. In fact, the world's largest cryptocurrency is now well off its all-time high of close to $126k, with BThe post Bitcoin - All about the liquidity signals that are hinting at a price recovery in 2026 appeared first on AMBCrypto.
Bitcoin Magazine
Bitcoin Price Struggles at $90,000 as Christmas Trading Looms
The bitcoin price briefly climbed above $90,000 after rising from $88,000 during Asian and European hours, before retreating toward $88,000 again during U.
Bitcoin price recently climbed above $90,000, hinting at a possible recovery, but there are still concerns that the rally may not last.
The post Bitcoin Price Reclaims $90,000, Is This Dead Cat Bounce? appeared first on Coinspeaker.
Bitcoin is trading around $88,000, well below its recent all-time high near $124,000. While price has stabilized after the sharp pullback, on-chain data suggests the market may not be out of the woods yet.
Although the Bitcoin price has recently displayed swift recovery to the upside, the broader picture still mirrors a bleak future for the flagship cryptocurrency. A new on-chain evaluation has surfaced, which suggests that Bitcoin’s recent price recovery could be happening within a broader, weak trend, with macroeconomic factors acting as the major influences.
Bitcoin Magazine
Bitcoin Price Crashes to $84,000 – Is $70,000 Next?
The bitcoin price experienced two more aggressive dumps today, now trading near $84,500.
This post Bitcoin Price Crashes to $84,000 – Is $70,000 Next? first appeared on Bitcoin Magazine and is written by Micah Zimmerman.
As the market volatility heats up again, the price of Bitcoin witnessed a pullback, bringing it closer to the $90,000 threshold. While BTC’s price faces a pullback, key on-chain metrics are beginning to follow suit, reaching levels that could shape or determine the next trajectory of the market.
Bitcoin Magazine
Bitcoin Price Forecast Tools and Cycle Valuation Metrics
This One Chart Has Never Missed a Bitcoin Price Top or Bottom in 15 Years
This post Bitcoin Price Forecast Tools and Cycle Valuation Metrics first appeared on Bitcoin Magazine and is written by Matt Crosby.
Bitcoin Magazine
Bitcoin Price Fights For $90,000 Despite Fed Rate Cuts
The bitcoin price fell on Wednesday night into Thursday, falling from $94,000 to below $90,000.
This post Bitcoin Price Fights For $90,000 Despite Fed Rate Cuts first appeared on Bitcoin Magazine and is written by Micah Zimmerman.
Bitcoin (BTC) is trading in a narrow range between $92,000 and $94,000, a zone that could dictate whether the cryptocurrency rallies toward $100,000 or retraces to around $90,000.
When Strategy disclosed its acquisition of more than 10,000 Bitcoin worth $1 billion, market watchers anticipated an immediate rally. Instead, Bitcoin’s price barely moved. The muted response was not a reflection of weak demand but the result of how the purchase was executed.
Bitcoin Magazine
Bitcoin Price Skyrockets to $94,000 as Banks Start to Embrace Bitcoin
The bitcoin price is pumping this morning, currently trading above $94,000.
This post Bitcoin Price Skyrockets to $94,000 as Banks Start to Embrace Bitcoin first appeared on Bitcoin Magazine and is written by Micah Zimmerman.
The Bitcoin price in December is now a key focus, given that the market ended November on a weak note. Bitcoin dropped more than 17% this month, breaking its usual November trend and raising questions about whether the recent $80,000 bounce was the real bottom.
Bitcoin Magazine
Bitcoin Price Dip Or New Bear Market?
Bitcoin Price Under Pressure as LTHs Distribute: Rising VDD Multiple & Falling Long-Term Holder Supply Show No Capitulation Yet.
Bitcoin has spent the past several weeks trapped in a persistent decline, wiping hundreds of billions of dollars from its market value and reversing nearly a year’s worth of gains. The pullback has pushed the price far below its October all-time high of $126,000 and has dragged sentiment with it as traders search for answers.
Bitcoin Magazine
Bitcoin Price Teeters at $93,000 as Bears Press Their Advantage
Bitcoin price is struggling to hold $93,000 as thin liquidity, leverage-driven volatility, and a critical break in market structure fuel one of the most bearish stretches of the 2025 cycle.
Bitcoin Magazine
Bitcoin Price Jumps Near $94,000 After Sub-$90,000 Dip
Bitcoin price briefly fell below $90,000 overnight before rebounding to the $94,000 range, trading near its weekly high, with over 19.
Bitcoin Magazine
Bitcoin Price Freefalls Down to $91,0000 and New Lows
Bitcoin price has fallen nearly 30% from its early October peak near $126,000, trading in the $92,000–$95,000 range as investors weigh Fed uncertainty and missing economic data.
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