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: SOL Strategies: The First Solana Treasury Company Listed On Nasdaq
  • 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: SOL Strategies: The First Solana Treasury Company Listed On Nasdaq

Bitcoin (BTC) Loses Multiple Parabolic Trend Lines as Bears Roar

Cole Petersen
Cole Petersen
1 year ago
2 mins read
Bitcoin BTC

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 and the aggregated crypto markets have been facing an extension of the significant downwards pressure that they first incurred last weekend when BTC sharply moved to just over $11,000 before it reeled down to its current price levels.

Now, analysts are noting that Bitcoin has broken through multiple parabolic trend lines that it had formed during the course of its recent bull run, which could signal that significantly further losses are imminent.

Bitcoin Breaks Below $10,000 as Bears Celebrate

At the time of writing, Bitcoin is trading down roughly 1% at its current price of $9,900 but is down significantly from its daily highs of $10,200 that were set yesterday.

BTC’s one-week price action paints a grim picture for the cryptocurrency, as it is currently trading down significantly from its seven-day highs of $11,000 that were set this past weekend, which sparked this latest sell-off.

Bitcoin’s inability to move above $11,000 set a lower high for the cryptocurrency and marks a significant extension of the downwards pressure that was first incurred when its price sharply moved to highs of $13,800 in late-June.

Importantly, analysts do believe that Bitcoin will continue to face further selling pressure in the near-future, with Chonis Trading, a popular cryptocurrency analyst on Twitter, explaining that he believes the crypto could soon drop towards $9,000.

“$BTC A measured move from the completion of this bear flag would take #bitcoin down to $9K area,” he said while referencing the below chart.

$BTC A measured move from the completion of this bear flag would take #bitcoin down to $9K area… pic.twitter.com/k47UBFSMhJ

— BIG Chonis (@BigChonis) July 24, 2019

BTC Continues Crashing Through Parabolic Trend Lines as Selling Pressure Flourishes

During the course of Bitcoin’s massive bull run that sent it from lows of $3,400 to highs of $13,800, it formed multiple parabolic trend lines that mark important levels of support for the cryptocurrency.

Chonis Trading also spoke about these trend lines in a recent tweet, explaining that it has already broken through two of these trend lines, and is currently pushing up against a third one.

“$BTC – flirting with losing its third parabolic advance line,” he said while referencing the five parabolic trend lines seen below.

$BTC – flirting with loosing its third parabolic advance line #bitcoin pic.twitter.com/SYMJSVlkVY

— BIG Chonis (@BigChonis) July 24, 2019

Although it will likely take some time before Bitcoin touches the fourth and fifth trend lines in the above chart, in theory BTC could drop as low as $4,400 while still maintaining a wide parabolic formation.

As long as the crypto continues to hold above the mid-to-upper $9,000 region, however, it may be able to hold above the third trend line, which could lead it significantly higher in the near-future.

Featured image from Shutterstock.

Tweet123Share223ShareSend
Cole Petersen
Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

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

Bitcoin Bull Run Nears Its Climax: Cycle Peak Indicates 95% Completion

Bitcoin (BTC) has recently reached a new weekly high above the $112,000 mark, signaling a potential new uptrend for the...

Ronaldo Marquez 2 hours ago

Ethereum Outflows Drive Binance Supply Ratio Under 0.037, Signaling Bullish Setup

After hitting its latest all-time high of $4,956 on August 23 on Binance, Ethereum (ETH) has been trading in a...

Ash Tiwari 3 hours ago
WLFI

Expert Predicts WLFI Going To $0 Without Sun’s Support, Panic Selling Looms

The launch of the World Liberty Financial platform’s native token, WLFI, was anticipated as a significant event in the cryptocurrency...

Ronaldo Marquez 5 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

Altcoin

‘Corporate’ Altcoin Season? Expert Shares How Crypto ETFs, Treasuries Could Change The Market

Rubmar Garcia 52 minutes ago
Bitcoin

Old Bitcoin Supply Keeps Moving Into ETFs: Data Shows Three Waves So far

Keshav Verma 1 hour ago
Crypto trading markt update: volatiliteit blijft hoog, groeien de zorgen?

Crypto trading markt update: volatiliteit blijft hoog, groeien de zorgen?

Lars Diederiksen 2 hours ago

Premium Sponsors

Press Releases

  • 50万ドル調達の新興プロジェクトが次の大型ミームコイン候補に浮上

    ...

    9 hours ago
  • イーサリアム売却後に注目される次のアルトコイン投資先4選

    ...

    9 hours ago
  • アルトシーズン前に投資候補となる仮想通貨プレセールの紹介

    ...

    10 hours ago
  • 仮想通貨おすすめ:市場回復期に注目すべき銘柄リスト

    ...

    10 hours ago
  • 今日注目すべき1ドル未満の新しい仮想通貨 ― 9月6日版

    今日注目すべき1ドル未満の新しい仮想通貨...

    10 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.