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

BTC Price Tech Analysis for 11/13/2017 – Deeper Correction Underway?

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 sold off sharply since breaking below the double top pattern highlighted in a previous article.
  • Zooming out to the longer-term time frame shows that bitcoin price is still in correction mode and is testing the first Fib level.
  • This lines up with a short-term area of interest but a deeper correction could find its way to the rising trend line on the daily chart.

Bitcoin price is in the middle of a much-needed correction from its strong rally since mid-September but technical indicators suggest that the uptrend could resume soon.

Technical Indicators Signals

The 100 SMA is still above the longer-term 200 SMA on the daily time frame so the path of least resistance is to the upside, which means that the uptrend would resume at some point.

In addition, the gap between the moving averages is widening to reflect strengthening bullish momentum. The 100 SMA coincides with the rising trend line connecting the lows of bitcoin price action since mid-July, adding to its strength as a floor.

It also lines up with the 61.8% Fibonacci retracement level around the $5000 handle. To top it off, it is around the former resistance level that might now hold as support, so plenty of buy orders are likely waiting there.

Stochastic is on the move down but dipping into oversold territory, which reflects exhaustion among sellers. RSI has more room to fall, though, so bearish pressure could stay in play until this oscillator hits oversold levels and turns back up.

If bullish pressure returns at any of the Fibs, bitcoin price could resume its climb to the swing high and beyond. On the other hand, a move below the trend line and 61.8% Fib could mark the start of a long-term reversal.

Market Factors

Bitcoin price popped higher on news that the hard fork this month is suspended, but this scenario is bound to come up again sooner or later, which means that the uncertainty has simply been postponed and not avoided.

Meanwhile, the dollar is also under pressure on more challenges to achieving tax reform, but it looks like it is able to hold a candle against the massive profit-taking in bitcoin longs.

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

ビットコイン23万ドル予測、注目の仮想通貨プレセールにも期待高まる

Фьючерсы на биткоин восстанавливаются, но сигналы Price Action вызывают опасения

Фьючерсные рынки биткоина демонстрируют признаки возобновления оптимизма: совокупный открытый интерес вырос на 7 % за последний месяц. Это первый устойчивый рост...

lisachaikina 2 hours ago
Ethereum vásárlás Magyarországon – Teljes útmutató 2025

Ethereum Price Turns Positive — More Upside Likely if Momentum Holds

Ethereum price started a fresh increase above the $2,550 zone. ETH is now consolidating gains and might aim for a...

Aayush Jindal 2 hours ago
Bitcoin

Bitcoin Bull Flag Breakout Confirmed — What Happens Next?

Bitcoin has broken out of the orange bull flag on the 1-hour chart. After consolidating within a tight range, the...

Sandra White 3 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

ChatGPT分析鏈上炒幣翻倍方程式 現在最值得買入的100倍迷因幣有哪些?

Mark Mak 3 minutes ago
Dogecoin (DOGE) Eyes Breakout

Dogecoin (DOGE) Eyes Breakout — Can Bulls Unleash the Next Surge?

Aayush Jindal 56 minutes ago
XRP Price Regains Traction

XRP Price Regains Traction — Is a Powerful Upside Break Brewing?

Aayush Jindal 1 hour ago

Premium Sponsors

Press Releases

  • 🚀CRYPTO MINING FIRM launches an APP cloud mining...

    4 hours ago
  • Felpörgő alternatív kriptovaluta a Dogecoin (DOGE) helyett – 650 dollárból 65 000 dollár lehet 4 hónap alatt

    Felpörgő alternatív kriptovaluta a Dogecoin (DOGE)...

    12 hours ago
  • 3 figyelemre méltó altcoin 2025. júliusának első hetében

    3 figyelemre méltó altcoin 2025. júliusának első...

    13 hours ago
  • Oblíbená alternativa Dogecoinu (DOGE), která z 650 USD udělá 65 000 USD za 4 měsíce

    Oblíbená alternativa Dogecoinu (DOGE), která z 650 USD...

    14 hours ago
  • 3 altcoiny, které sledovat v prvním týdnu července 2025

    3 altcoiny, které sledovat v prvním týdnu července 2025

    15 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.