NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Bitcoin Price Technical Analysis for 13/01/2016 – Sellers Unite!

newsbtc
newsbtc
1 year ago
2 mins read
bitcoin price. sellers unite. illustration. newsbtc

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Bitcoin Price Key Highlights

  • As hinted in yesterday’s update, bitcoin price was due for a downside break of the triangle support visible on the 4-hour time frame.
  • Price had been previously consolidating inside a long-term ascending triangle after forming higher lows and testing resistance at $465.
  • With this downside break, bitcoin price could eventually make its way towards the $400 area of interest.

Bitcoin price could undergo stronger bearish momentum in the coming days after it broke below the ascending triangle support.

How Low Can It Go?

The triangle chart pattern spans $350 to $465 so the resulting breakdown could last by the same amount, although there are near-term support areas visible. The short-term 100 SMA is currently holding as a dynamic support level but it is below the longer-term 200 SMA so the path of least resistance is to the downside.

bitcoin price, bitcoin trading, bitcoin technical analysis

Stochastic is on the move down, confirming that sellers are taking control and ready to push bitcoin price further south. RSI is also moving lower but is already near the oversold region, which means that bearish momentum could fade soon.

If so, a pullback opportunity to the bottom of the triangle around $450 could emerge, allowing more sellers to enter at a slightly better price. A larger correction could place bitcoin price back inside the triangle and on the way to test the resistance once more.

If this move proves to be a fakeout, bulls could gain more traction in pushing bitcoin price back above the triangle resistance and onto the previous year highs closer to $500. However, market sentiment is suggesting that the dollar is enjoying more support.

Should the moving averages move further apart, bearish momentum could pickup. This could trigger sharper drops to the next areas of interest to $420, $400, then all the way down to $350.

Bitcoin vs. USD

Apart from the risk aversion that ensued at the start of the year, the U.S. dollar is also drawing support from stronger fundamentals. The latest NFP figure beat expectations and reflected continued progress in the labor market, although wage growth remained subdued.

Event risks for the dollar moves this week include the retail sales release, PPI figures, and consumer sentiment index due on Friday. This should give more insight on the consumer sector and future inflation trends, two factors that also impact Fed policy.

Consumer spending might print strong figures for December, as holiday shopping sprees are likely to add seasonal purchases to the numbers. However, the PPI readings could be of more interest, as some Fed officials have highlighted the importance of their inflation outlook in determining whether they’re likely to hike interest rates again in March or not.

As for bitcoin, the cryptocurrency appears to be joining its riskier peers in tumbling during risk-off days. After all, investors feel better about putting their money in safer and lower-yielding assets during these instances. In the virtual currency arena, though, bitcoin remains supported compared to the rest of the bunch.

Intraday support level – $400

Intraday resistance level – $450

Technical Indicators Settings:

  • 100 SMA and 200 SMA
  • Stochastic (8, 3, 3)
  • RSI (14)

Charts from Bitstamp, courtesy of TradingView

 

Tweet123Share196ShareSend
newsbtc
newsbtc

newsbtc

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin

Bitcoin Must Hold $106,000 And $98,000 To Avoid Breakdown

Bitcoin is currently holding just above the $108,000 level and bulls are maintaining momentum after a volatile start to July....

Scott Matherson 8 hours ago
Bitcoin

Bitcoin’s True Value Is Higher Than $110,000, Expert Warns

Bitcoin’s climb past $110,000 this week has reignited a fresh round of bullish calls. Prices hit $110,150 on July 3...

Christian Encila 9 hours ago
Bitcoin

Bitcoin Consolidation Continues: 2 Key Support Levels To Watch

Bitcoin (BTC) prices showed a sideways movement in the past day producing no significant changes. Following the recent rejection at...

Semilore Faleti 11 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin

Bitcoin Exchange Outflows Continue To Rise: Investor Confidence At An All-Time High?

Opeyemi Sule 3 hours ago
Bitcoin

Bitcoin Meets Heartbreak In Drake’s Latest Track—Details

Christian Encila 5 hours ago
Bitcoin

Are Bitcoin Retail Traders Back In The Market? On-Chain Data Suggests So

Opeyemi Sule 6 hours ago

Premium Sponsors

Press Releases

  • Make $8,000 a day in stable passive income easily –...

    4 hours ago
  • SunnyMining——A passive income tool that allows ordinary...

    5 hours ago
  • Cryptocurrency is the best way to get rich quickly, easily...

    20 hours ago
  • XRP Cryptocurrency × Dogecoin Mining: HASHJ launches...

    1 day ago
  • Koja kriptovaluta ima veći potencijal za stvaranje milijunaša XRP ili Shiba Inu

    Koja kriptovaluta ima veći potencijal za stvaranje...

    1 day ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.