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: Binance Founder Suggests President Trump Could Be Satoshi Nakamoto In Latest Statement
  • 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: Binance Founder Suggests President Trump Could Be Satoshi Nakamoto In Latest Statement

Analyst: Bearish Bias Makes no Sense, Bitcoin Price Looks Strong

Nick Chong
Nick Chong
1 year ago
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.

Late last month, Bitcoin (BTC) suddenly exploded higher. In under 24 hours, the leading cryptocurrency shot from $7,300 to $10,600 in a now-historic pump that caught countless traders slacking.

This move was decisively bullish, as it was, after all, the fourth-largest daily move in Bitcoin’s history, and the largest daily move in over seven years.

For some reason or another, however, a number of analysts have maintained a bearish attitude after this move. One trader, for instance, noted that Bitcoin’s three-day Relative Strength Index remains in “bear market” territory, while the recent move higher was a textbook signal for a downward trend continuation.

This bearish bias may be non-sensical though, according to SmokeyXBT, a well-followed trader.

Related Reading: Research Firm: Bitcoin Price Bottomed at $7,300, Recovery Possible

Bitcoin Bear Case Makes No Sense?

Smokey recently noted that he “isn’t quite sure how people can have a strong bias here.” While he did admit that Bitcoin has yet to break above a trendline resistance and the weekly horizontal resistance of $9,600, he noted that BTC has decisively reclaimed $9,111 — a level which has been essential for the cryptocurrency since May.

What’s more, the buying volume on the reclamation of this key support was higher than it was on the breakdown, implying that bulls are attempting to assert control over the market.

https://twitter.com/SmokeyXBT/status/1191061256188370945

 

Related Reading: Analyst: Bitcoin May See 30% Rally to $12,000 as Price Breaks Out

Smokey isn’t the only analyst thinking that Bitcoin is looking strong after holding in the low-$9,000s for days now. The Crypto Dog recently quipped that  Bitcoin “looks like a launchpad.” Backing his quip, Dog looked to two resistance levels, which BTC has established over the past week. Recently, the cryptocurrency quietly broke above them, showing that the longs are starting to gain control.

Related Reading: Institutions Accrue Bitcoin Long Positions as Price Looks to Break Past $9,300
Featured Image from Shutterstock
Tweet123Share226ShareSend
Nick Chong
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

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

Ethereum

Ethereum Rebounds From Bull Market Support: Can It Conquer The ‘Golden Pocket’ Next?

Ethereum is showing renewed strength after rebounding from its Bull Market Support Band, a key zone that has historically served...

Godspower Owie 15 hours ago
Trump

Trump To Install New Pro-Crypto CFTC Chair? Here’s What We Know So Far

New reports reveal that United States President Donald Trump has picked pro-crypto Michael Selig as the new chair nominee for...

Scott Matherson 16 hours ago
Bitcoin

‘Money Will Pour In’ – CEO Predicts Bitcoin Will Explode To $180K

According to VanEck’s Mid-October 2025 ChainCheck, Bitcoin could climb much higher if several big pieces line up. The firm ties...

Christian Encila 17 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 Market Cap Tests Multi-Year Ceiling, Long-Term Momentum Still Intact

Scott Matherson 3 minutes ago
Bitcoin

Bitcoin Reserves On Binance Fall To July Lows — What This Means For Price

Semilore Faleti 3 hours ago
XRP

XRP: The Catalyst For ‘Humanity’s Greatest Shift’ By 2030 —Analyst

Christian Encila 58 minutes ago

Premium Sponsors

Press Releases

  • ビットコイン 今後 の懸念:量子ジレンマが深刻な弱気相場を招く可能性

    ビットコイン 今後...

    4 hours ago
  • ドージコイン 今後 の価格予測:主要アナリストが「1ドル到達までHODL」を呼びかけ

    ドージコイン 今後...

    4 hours ago
  • CMEでXRP先物が急増、アルトコイン市場に価格ブレイクの兆し

    ...

    5 hours ago
  • 仮想通貨1000倍 の可能性を秘めた新プロジェクト:話題のプレセールが2,500万ドル目前に

    仮想通貨1000倍...

    5 hours ago
  • ミームコイン市場で注目の新星、次なる1,795%上昇が期待されるプロジェクトとは

    ...

    5 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.