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: Bitcoin Price Tumbles Toward $98,000: What’s Driving The Drop And What Lies Ahead
  • 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: Bitcoin Price Tumbles Toward $98,000: What’s Driving The Drop And What Lies Ahead

Bitcoin Price Watch: BTC Broke Key Support, Could Test $6,275

Aayush Jindal
Aayush Jindal
Last Updated: June 11, 2024 1:31 pm
2 mins read

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.

Key Points

  • Bitcoin price failed to hold the key support at $6,590 and declined below $6,500 against the US Dollar.
  • There was a break below a bearish pattern with support at $6,550 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair is under pressure and it seems like it could continue to move down towards the $6,380 and $6,275 levels.

Bitcoin price failed to hold the $6,600 and $6,590 supports against the US Dollar. BTC/USD is likely to extend declines towards the next support at $6,275.

Bitcoin Price Analysis

Yesterday, we discussed a short-term correction below the $6,700 level in bitcoin price against the US Dollar. The BTC/USD pair started a downside move and traded below the $6,620 and $6,600 support levels. Besides, the price traded below the key support at $6,590. More importantly, there was a break below a bearish pattern with support at $6,550 on the hourly chart of the BTC/USD pair.

There was also a break below the 50% Fib retracement level of the last wave from the $6,102 low to $6,833 high. The current bias is bearish below the $6,520 level. If the price continues to move down, it could test the $6,381 and $6,275 levels. The later one is the 76.4% Fib retracement level of the last wave from the $6,102 low to $6,833 high. On the upside, the previous support levels near $6,560 and $6,590 are likely to act as hurdle for buyers in the near term. Additionally, the $6,660 level is also a major resistance along with the 100 hourly simple moving average.

Bitcoin Price Analysis BTC Chart

Looking at the chart, bitcoin price moved into a bearish zone below the $6,580 level. If sellers remain in action, the price could extend declines towards $6,275.

Looking at the technical indicators:

Hourly MACD – The MACD for BTC/USD is gaining strength in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI is currently well below the 40 level.

Major Support Level – $6,275

Major Resistance Level – $6,590

Tweet123Share196ShareSend
Aayush Jindal
Aayush Jindal

Aayush Jindal

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

Read more

From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.

Close

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

Bitcoin news Michael Saylor BTC reserve

Can Strategy Survive A 90% Bitcoin Crash? Saylor Says Yes

Michael Saylor is explicitly telling markets that Strategy (MSTR) has been built to withstand a Bitcoin crash that would wipe...

Jake Simmons 59 minutes ago
CoinPoker раскрыла и забанила RTA-читера: $10 000 вернули 59 игрокам

CoinPoker раскрыла и забанила RTA-читера: $10 000 вернули 59 игрокам

На криптопокерной сцене снова громкое событие. Платформа CoinPoker объявила о раскрытии и блокировке регулярного игрока под ником LazyAss, уличенного в...

dariajz 1 hour ago
Tether’s $1B Neura Bet Puts AI Tokens In Focus As SUBBD Presale Heats Up

Tether’s $1B Neura Bet Puts AI Tokens In Focus As SUBBD Presale Heats Up

What to Know: Tether’s potential $1B+ funding role in Neura highlights aggressively crypto profits flows into real-world AI and robotics...

Aaron Walker 51 minutes 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

Best Wallet Token presale enters final stretch for DeFi.

Best Wallet Token Presale Enters Final Stretch For DeFi

Aaron Walker 10 minutes ago

以太坊價格走勢分析|最新行情預測與關鍵支撐阻力位 ETH今年還會再漲?

Ter Yim 22 minutes ago
Alibaba’s Blockchain Payment Pivot Puts Best Wallet Token In Play

Alibaba’s Blockchain Payment Pivot Puts Best Wallet Token In Play

Aaron Walker 44 minutes ago

Premium Sponsors

Press Releases

  • 仮想通貨投資:新興のマイン型プロジェクトは2025年の有力候補となるのか?

    ...

    17 hours ago
  • 新しい仮想通貨の動向:話題を集めた犬系プロジェクトは勢いを維持できるのか?

    ...

    18 hours ago
  • 新しい仮想通貨2025:新興ミーム系プロジェクトがQ1の上場ラッシュで注目される理由

    ...

    18 hours ago
  • イーサリアム 今後:BTC急落でETHが1週間で7.3%下落、クジラの動きはどこへ向かうのか?

    イーサリアム...

    19 hours ago
  • ドージコイン 今後:アナリストが「最難関の四半期」と警告も、大幅反発の可能性を指摘

    ドージコイン...

    19 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.