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 (BTC) Price Remains Strong Buy On Dips Despite Binance Hack

Aayush Jindal
Aayush Jindal
6 years ago
2 mins read
technical analysis 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 traded to a new 2019 high above $5,950 and recently corrected lower against the US Dollar.
  • The price declined below the $5,900 and $5,840 support levels, but it remained well bid.
  • There was a break below a connecting bullish trend line with support near $5,840 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair is likely to climb higher once towards the $5,880 and $5,900 levels in the near term.

Bitcoin price started a downside correction after testing $5,950-6,000 against the US Dollar. BTC remains well supported in the short term near the $5,740 and $5,560 levels.

Bitcoin Price Analysis

Yesterday, there was a fresh rise in bitcoin price above the $5,850 resistance against the US Dollar. The BTC/USD pair climbed above the $5,900 level and traded close to the $6,000 resistance level. A new 2019 high was formed near $5,965 and the price recently corrected lower. There was a sharp dip below the $5,900 level, triggered by the report of 7,000 BTC hack news from the cryptocurrency exchange, Binance. The price declined below the $5,800 support and the 50% Fib retracement level of the last wave from the $5,563 low to $5,962 high.

During the decline, there was a break below a connecting bullish trend line with support near $5,840 on the hourly chart of the BTC/USD pair. The pair even spiked below the $5,700 level and the 100 hourly simple moving average. It tested the 76.4% Fib retracement level of the last wave from the $5,563 low to $5,962 high. After tagging the $5,670 level, the price bounced back. It is currently trading above the $5,750 level and the 100 hourly simple moving average.

On the upside, an immediate resistance is near the $5,840 level. If there is an upside break above the $5,840 level, the price may retest the $5,900 level. Any further gains could push the price towards the $5,950-5,960 resistance zone. On the downside, an initial support is at $5,760. The next key support is near the $5,740 level and the 100 hourly SMA.

Bitcoin Price Analysis BTC Chart

Looking at the chart, bitcoin price clearly corrected lower sharply, but later bought back above $5,740. Therefore, there are high chances of a fresh rise towards the $5,900 and $5,950 level. Conversely, if the price breaks the 100 hourly SMA, it could revisit the main support near the $5,560 level in the coming sessions.

Technical indicators:

Hourly MACD – The MACD is currently placed in the bearish zone, with a few positive signs.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently moving higher and it could break 50.

Major Support Levels – $5,740 followed by $5,560.

Major Resistance Levels – $5,840, $5,900 and $5,960.

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

ETH, ether, Ethereum

Ethereum Eyes Big Move As Price Compresses Between Key Levels – $2,100 Or $4,000 Next?

Ethereum (ETH) is attempting to retest the local range highs following last week’s market shakeout. However, some analysts believe that...

Rubmar Garcia 1 hour ago
Crypto Funds Hit With Record Outflows, But Altcoin Buyers Smell Opportunity

Crypto Funds Hit With Record Outflows, But Altcoin Buyers Smell Opportunity

Crypto asset investment products experienced another challenging week as capital outflows continued for a second consecutive period. According to the...

Samuel Edyme 3 hours ago
Ethereum

Record‑High Ethereum Open Interest Signals Institutional Confidence

Ethereum (ETH) grabbed fresh attention on June 16 as futures open interest climbed to a yearly high of $36.56 billion. Prices bounced...

Christian Encila 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

рост Ethereum

ETH демонстрирует устойчивость и нацелен на рост

lisachaikina 25 minutes ago
Stablecoins & Bitcoin

Stablecoin Exchange Inflows Plummet $61 Billion—Warning Sign for Bitcoin?

Keshav Verma 57 minutes ago

加密富翁押中Hyperliquid獲利5億美元 鏈上追蹤領幣前最後1周重金押注Solaxy

Kelvin Lee 1 hour ago

Premium Sponsors

Top Brands

Press Releases

  • Start a Bitcoin Miner with Kraken and Earn $7,715 a Day

    7 hours ago
  • Solaxy

    Solaxy ICO bước vào giờ chót khi cá voi tiếp...

    9 hours ago
  • Krypto býčí trh je tu top 3 altcoiny na kúpu a držanie

    Đợt tăng giá crypto đã bắt đầu: những alt...

    10 hours ago
  • Bitcoin koers beweegt steeds vaker mee met aandelen - blijvend of tijdelijke trend?

    Bitcoin vượt mặt Amazon, Tesla và Meta – Nhưng...

    10 hours ago
  • Wietnam zalegalizował kryptowaluty, a Saylor doradza Pakistanowi w sprawach blockchain: Najlepsze altcoiny do inwestowania

    Wietnam zalegalizował kryptowaluty, a Saylor doradza...

    11 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.