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: Crypto Bulls Rejoice: Congresswoman Confirms Powell’s Imminent Firing
  • 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: Crypto Bulls Rejoice: Congresswoman Confirms Powell’s Imminent Firing

BTC Price Tech Analysis for 12/01/16 – Gearing up for a Breakdown?

newsbtc
newsbtc
1 year ago
2 mins read
bitcoin price gearing up for breakdown. 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

  • Bitcoin price is still safely inside its ascending triangle pattern visible on the 4-hour time frame, suggesting that further consolidation could be seen.
  • Price is now testing support at the bottom of the triangle around $445 and might be due for either a bounce or a break.
  • If a downside break occurs, a longer-term selloff could ensue for bitcoin price. On the other hand, a bounce could lead to a rally up to the triangle resistance at $465.

Bitcoin price is sitting at the bottom of the long-term ascending triangle, still deciding whether to make a bounce or a break.

Clues from Technical Indicators

To figure out where bitcoin price could be headed next, let’s turn to the technical indicators. The moving averages are showing a downward crossover at the moment, with the shorter-term 100 SMA below the longer-term 200 SMA. This indicates that the path of least resistance might be to the downside, favoring further losses.

If a break below the triangle support is seen, bitcoin price could make it all the way down to the area of interest just above the $400 psychological support level. Stronger bearish pressure could even push it down to the bottom of the triangle near $350.

bitcoin price, bitcoin trading, bitcoin technical analysis

RSI is also on the move down, confirming that sellers are currently in control of bitcoin price action. Once this oscillator reaches the oversold zone, buyers might be able to take over and trigger a quick bounce or some profit-taking action.

Meanwhile, stochastic is on the move up, indicating that buying momentum is taking hold. This could still be enough reason for bitcoin price to bounce up to the top of the triangle, especially since the 200 SMA appears to be holding as a dynamic support level at the moment.

Market Sentiment Outlook

Much of bitcoin price action has been driven by USD flows these days, as the dollar has been acting as a safe-haven in times of market risk aversion. Last week, the stock market selloff in China has spurred strong dollar demand, with investors moving their funds out of higher-yielding and riskier assets like bitcoin towards lower-yielding ones.

However, the recent move by the Chinese government to intervene in the currency market has forced the dollar to return some of its wins, allowing traders to take on more risk. In addition, cautious rhetoric from Fed officials like Dennis Lockhart has dampened dollar demand, as his remarks cast doubts on whether the Fed can be able to hike interest rates in March or not.

Moving forward, further consolidation seems to be likely for bitcoin price now that traders are still trying to make sense of the recent market rout and figure out if it marks the start of longer-term trends or a prevailing market theme. Additional risk-off flows could be the catalyst for a downside triangle breakout while a recovery in risk appetite could keep the cryptocurrency supported.

Intraday support level – $445

Intraday resistance level – $465

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

봉크·솔라나 시장 급등 속, 스노터 토큰에 투자자 이목 집중

봉크·솔라나 코인 급등 속, 스노터 토큰에 투자자 이목 집중

밈코인 봉크(Bonk, $BONK)의 상승세가 거침없다. 지난주 20% 급등한 데 이어 이번주에도 상승폭을 확대하며 랠리를 이어가고 있다. 이와 같은 상승 배경에는 투자자들의 자금...

Soyeon Lee 1 hour ago
World Liberty Financial

World Liberty Financial Token Proposal Garners Massive 99% Support

Holders of the World Liberty Financial token, WLFI, have voted overwhelmingly to make these tokens tradable, a decision that could...

Ronaldo Marquez 1 hour ago
유니스왑, TVL 730억 달러 돌파… 밈코인이 주도하는 디파이 리더십 교체

유니스왑, TVL 730억 달러 돌파… 밈코인이 주도하는 디파이 리더십 교체

메리-캐서린 레이더(Mary-Catherine Lader)가 유니스왑 랩스의 사장 겸 최고운영책임자(COO) 자리에서 4년 만에 물러났다. 그녀는 스타트업이었던 유니스왑을 이더리움...

Soyeon Lee 1 hour 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

Crypto whale short $62 miljoen Ethereum met 18x leverage – ETH koers crasht naar $2900?

Crypto whale short $62 miljoen Ethereum met 18x leverage – ETH koers crasht naar $2900?

Lars Diederiksen 19 minutes ago
Crypto expert: Bitcoin koers gaat snel exploderen naar $250.000

Bitcoin Touches 8-Year Trendline That Marked Previous Cycle Tops

Scott Matherson 52 minutes ago

8 Reasons To Check Out KuCoin’s $1M Affiliate Program

NewsBTC 1 hour ago

Premium Sponsors

Press Releases

  • 2 kryptoměny s extrémně vysokým oceněním, které mohou stát za to riziko

    2 kryptoměny s extrémně vysokým oceněním, které...

    14 hours ago
  • 2 rendkívül magas árfolyamú kriptovaluta, amelyeket érdemes lehet kockáztatni

    2 rendkívül magas árfolyamú kriptovaluta, amelyeket...

    15 hours ago
  • 2 криптовалути с небесни оценки...

    18 hours ago
  • 仮想通貨プレセール|ビットコイン向け最速かつ唯一の本格レイヤー2が300万ドル突破

    ...

    18 hours ago
  • 2 rendkívül magas árfolyamú kriptovaluta, amelyeket érdemes lehet kockáztatni

    ...

    18 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.