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 05/19/2016 – Bears Trying Harder

newsbtc
newsbtc
1 year ago
2 mins read
bitcoin price

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 stuck inside the ascending channel pattern on the 4-hour time frame and still hovering around support.
  • Price has been consolidating above the $450 level for quite some time, as bears are trying to find more energy for a downside break.
  • The FOMC minutes failed to spur dollar demand strong enough for a downside break, leaving bitcoin traders waiting for the next big catalyst.

Bitcoin price might be able to break below the channel support if dollar demand picks up in the latter sessions.

Technical Indicators Signals

The 100 SMA is still above the longer-term 200 SMA so the uptrend could carry on. In addition, the 100 SMA coincides with the channel support, which explains its strength as a floor for now. However, the gap between the moving averages is narrowing, indicating weaker bullish pressure and a possible downward crossover.

Stochastic is on middle ground and is pointing down, which means that there’s still some selling momentum left. RSI has also been treading around the 50.0 level for quite some time, barely offering strong directional hints.

A break below this channel support could spur a move to the next area of interest at $430 then at $400. On the other hand, a bounce could lead to a test of resistance at the $465-470 area.

160519_bitcoin

Market Events

The FOMC minutes released yesterday showed that some Fed officials are still considering hiking interest rates in June, provided the US economy is able to maintain its pace of growth, hiring, and inflation. This revived speculations of tightening next month even after the actual Fed statement dashed these hopes.

Data from the US economy has been mostly stronger than expected, with the latest retail sales report showing larger gains. However, earnings reports have been far from impressive, indicating that the corporate sector might still be struggling.

In addition, policymakers noted that a potential Brexit and concerns about unanticipated changes in China’s exchange rate could convince them to sit on their hands. For today, the Philly Fed index and US jobless claims are due but these aren’t likely to spur strong moves for bitcoin price.

Meanwhile, risk sentiment could continue to favor dollar strength and eventually lead to a reversal from the short-term uptrend.

Charts from SimpleFX

Header Image: NewsBTC

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

L’ultimo Rally di Bitcoin è Sostenuto da un Potere d’Acquisto più Forte: Report

I dati del Bitcoin Stablecoin Supply Ratio suggeriscono che oggi gli investitori hanno un potere d’acquisto più forte rispetto al...

clararosati 1 hour ago
Altcoin

Altcoin Season Not Remotely Close, Bitcoin Dominance Still Too High: Market Expert Says

The wait for altcoin season continues as the crypto market is still showing signs of bearish movement. Expectations are high...

Scott Matherson 2 hours ago

2025年Bitunix限時加密獎勵攻略:註冊、入金、交易三重紅利8月前一次領

身為全球領先的加密貨幣交易平台,Bitunix正展開一波史上最強的專屬獎勵活動,從3月18日一路持續至8月20日,為廣大交易者提供前所未有的收益加速機會。 在這段限時期間,您可透過註冊獎勵、首筆入金回...

Peter Chow 2 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

$SNORT

ChatGPT napoveduje 10x rast žetona Snorter

tanjapotocnik 13 minutes ago
DOGECOIN

Dogecoin cena gre še višje, TOKEN6900 bo eksplodiral

tanjapotocnik 27 minutes ago
Dogecoin price news

The $1 Dogecoin Dream Is Alive: Chartist Lays Out Parabolic Scenario

Jake Simmons 36 minutes ago

Premium Sponsors

Press Releases

  • Dự Đoán Giá Fartcoin: Meme Coin Tiềm Năng FARTCOIN...

    3 hours ago
  • CertiK Validates FUNToken’s

    CertiK Validates FUNToken’s Smart Contract Strength With...

    3 hours ago
  • Explore Potential Coins

    Peter Thiel của PayPal Hậu Thuẫn Ngân Hàng Crypto...

    3 hours ago
  • Altcoin season uitgesteld? Bitcoin dominantie houdt kapitaal weg van XRP, SOL en ADA

    Những Altcoin Nên Mua Tháng 7 – USELESS, BROCCOLI...

    4 hours ago
  • Cloud Mining

    Free QFSCOIN Cloud Mining Regulated By US Law Launches BTC...

    4 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.