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: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market
  • 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: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market

Bitcoin Just Closed Beneath This Key Level and It Isn’t Good for Bulls

Cole Petersen
Cole Petersen
1 year ago
2 mins read
Bitcoin BTC

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 has had a rocky past few days, surging to highs of $9,200 this past Saturday before meeting insurmountable resistance that has sparked a short-term downtrend. This downtrend has led BTC into the mid-$8,000 region, but the losses may not end here.

One analyst is now noting that Bitcoin recently closed beneath a key technical resistance line, which may signal that it will ultimately make a move down to its key support within the lower-$8,000 region.

Bitcoin Struggles to Build Upwards Momentum as the Case for Further Bullishness Weakens 

At the time of writing, Bitcoin is trading down marginally at its current price of $8,650, which marks a slight decline from daily highs of just under $8,800.

It is important to note that Bitcoin has been able to bounce at $8,500 on multiple occasions over the past couple of days, signaling that this region could be a demand zone for the cryptocurrency in the near-term.

In spite of this, BTC’s recent rejection at $9,200 has damaged the cryptocurrency’s near-term technical strength, potentially signaling that it will continue dropping lower before it finds enough support to catalyze its next uptrend.

HornHairs, a popular cryptocurrency analyst on Twitter, believes that BTC could drop as low as the last weekly open at roughly $8,200 before it finds any meaningful support.

“Back in the lab, plans for the day: Play the sweep of either side of the current range created by this initial bounce, or short the breakdown back to last week’s open. Eye’s on the blue boxes as inefficient moves in which mostly one side is filled are typically retraced,” he noted while referencing the levels seen on the below chart.

$BTC

Back in the lab, plans for the day:

Play the sweep of either side of the current range created by this initial bounce, or short the breakdown back to last week's open.

Eye's on the blue boxes as inefficient moves in which mostly one side is filled are typically retraced. pic.twitter.com/gIvpZ3se79

— HornHairs 🌊 (@CryptoHornHairs) January 20, 2020

BTC’s Close Below This Key Trendline Could Spell Trouble for What Comes Next 

Josh Rager, another prominent analyst on Twitter, seems to concur with the possibility that BTC could see a movement down towards the lower-$8,000 region, but he first notes that he believes it could see a push up before this drop occurs.

“Daily closed under 200 DMA after an 8%+ drop. Could potentially see a push up before continuation down and watching the support at $8000 to $8200 for a bounce. Break below $7700 would be bearish but not expecting it drop that low at this point in time,” he explained.

https://twitter.com/Josh_Rager/status/1219372860239753221

The coming hours and days should elucidate the long-term impact of BTC’s recent rejection at $9,200, as any further near-term downside could mean that its recent highs will mark a mid-term top for the crypto.

Tweet123Share196ShareSend
Cole Petersen
Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

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

Avalanche

Avalanche Bulls Eye Breakout, But Mid-Term Caution Clouds The View

Crypto Analysis AI, in a recent update on X, highlighted that Avalanche (AVAX) is displaying mixed signals across multiple timeframes....

Godspower Owie 6 hours ago

How Stablecoin Rules Are Cementing USD as the World’s Digital Anchor

Conventional crypto wisdom has traditionally painted stablecoins as a potential threat to the U.S. dollar’s hegemony: digital upstarts set to...

News BTC 6 hours ago
Ethereum

Ethereum’s Breakout Above The MA50 Suggests Further Upside, Here’s The Target

Ethereum (ETH) has decisively broken above a resistance level, the 50-day Exponential Moving Average (EMA50), igniting renewed bullish momentum across...

Scott Matherson 7 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 Sees Long-Term Holders Sell As Short-Term Buyers Step In – Sign Of Rally Exhaustion?

Ash Tiwari 3 minutes ago
Ethereum news

Tom Lee Predicts $30,000 Per Ethereum As Treasury Frenzy Begins

Jake Simmons 1 hour ago
Coinbase Premium Signals Aggressive Ethereum Accumulation: Institutional Demand Accelerates

Coinbase Premium Signals Aggressive Ethereum Accumulation: Institutional Demand Accelerates

Sebastian Villafuerte 4 hours ago

Premium Sponsors

Press Releases

  • 米下院がGenius法案を可決、暗号資産市場は4兆ドル間近に — 次なる仮想通貨1000倍の期待銘柄とは

    ...

    2 hours ago
  • Top 5 Cloud Mining Sites in 2025: Best Crypto Platforms for...

    5 hours ago
  • PAXMINING Leads 2025 Bitcoin Mining Surge: Innovative Cloud...

    7 hours ago
  • ミームコイン熱狂の中、最新仮想通貨プレセールが63万ドルを突破

    ...

    8 hours ago
  • XRPが3.4ドルの最高値を突破し、2日間で取引量が約4倍に急増する中で注目される次の仮想通貨おすすめ

    ...

    9 hours 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.