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: Tether Targets $500 Billion Valuation In New Equity Offering Amid US Expansion Plans
  • 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: Tether Targets $500 Billion Valuation In New Equity Offering Amid US Expansion Plans

Bitcoin Price Analysis for 05/01/2017 – Eyes on the Channel Top!

newsbtc
newsbtc
1 year ago
2 mins read
bitcoin

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 keeping up with its climb and is setting its sights higher to the top of the ascending channel on its daily time frame.
  • Price could reach $1400 sooner or later, with technical indicators signaling that the uptrend could continue.
  • Some signs of rally exhaustion are seen but there have been no indications of a return in bearish momentum just yet.

Bitcoin price continues to head further north and appears to be aiming for the ascending channel resistance at $1400.

Technical Indicators Signals

The 100 SMA is above the longer-term 200 SMA so the path of least resistance is still to the upside. Also, the gap between the two keeps widening to reflect stronger bullish momentum. This could be enough to push bitcoin price all the way up to the channel resistance before profit-taking happens.

Stochastic is already indicating overbought conditions, which suggests that buyers are feeling exhausted. Similarly, RSI is in the overbought area to indicate that bullish pressure is fading. However, both oscillators have yet to cross below the overbought region and turn lower to reflect a return in selling momentum.

A pullback could last until the channel support at $1100, which is close to the 100 SMA dynamic support. A shallow correction could find a floor at the $1200-1250 mid-channel area of interest before resuming the climb.

Market Events

The dollar once again gave up ground on Friday when the advance GDP reading turned out weaker than expected. The economy grew by only 0.7%, almost half the projected 1.3% figure and significantly lower than the earlier period’s 2.1% expansion. This casts doubt that the Fed can be able to hike rates two more times this year, especially with weaker expectations of Trump’s tax reform being enacted before the end of 2016.

Meanwhile, bitcoin price continues to gain further upside traction on renewed hopes that the Winklevoss COIN ETF could eventually see approval from the SEC. Last week, news broke out that the regulator is looking to conduct another review of the proposal and lifted the cryptocurrency.

Charts from SimpleFX

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

TAO, Solana, SUI, chainlink

SUI Retest Ascending Triangle Support Amid 8% Drop – Bounce Or Breakdown Next?

SUI is attempting to hold a crucial area as support amid the recent market downturn. Some analysts suggest the altcoin’s...

Rubmar Garcia 3 hours ago
Ethereum Dives Sharply

Ethereum Dives Sharply – $4,000 Break Sparks Concerns Of Extended Downtrend

Ethereum price started a fresh decline below $4,050. ETH is now struggling and might decline further if it breaks the...

Aayush Jindal 4 hours ago
Bitcoin price

Expert Prediction: Bitcoin Price Could Hit $200,000 By June 2026, Claiming 50% Probability

Despite recent fluctuations that saw the Bitcoin price retrace nearly 6% on a weekly basis, market expert Timothy Peterson remains...

Ronaldo Marquez 4 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

Dogecoin

Dogecoin (DOGE) On The Brink Of A Major Breakout: 800% Rally In Sight

Ronaldo Marquez 1 hour ago
Solana (SOL) Nosedives

Solana (SOL) Nosedives – Traders Fear More Pain Could Be Ahead

Aayush Jindal 2 hours ago
XRP Price Faces Pressure

XRP Price Faces Pressure – Another Dip Raises Concerns Of Extended Decline

Aayush Jindal 3 hours ago

Premium Sponsors

Press Releases

  • ドージコイン 今後の展望 ― 0.30ドル到達と「買うべきミームコイン」論争

    ドージコイン 今後の展望 ―...

    17 hours ago
  • リップル 今後の展望:RLUSDステーブルコインがマネーマーケットファンドに統合

    リップル...

    17 hours ago
  • 仮想通貨プレセール動向:次世代ビットコインレイヤー2が資金を集める

    ...

    17 hours ago
  • テザーが5,000億ドル規模の資金調達を計画、今注目すべき仮想通貨おすすめ

    ...

    18 hours ago
  • 新しい仮想通貨のプレセールが250万ドル目前、投資家が急増中

    ...

    18 hours ago

Newsletter

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.