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 Nears Key Golden Cross as Price Falls to $7,400: Bull Case Alive

Nick Chong
Nick Chong
1 year ago
3 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.

It seems that all the odds are stacked against Bitcoin (BTC) once again. Over the past few days, the leading cryptocurrency has lost the key $8,000 support level for the umpteenth time in a matter of a few weeks, tumbling from that level to $7,400 over the past 48 hours.

Related Reading: Bitcoin Price Jumped 42% Last Time It Hit This Level, and BTC Has Tapped It Again

While BTC remains a tad above the $7,300 low seen in late October, analysts suggest that the crypto market is ready to head lower. Peter Schiff, for instance, said on Thursday that he expects for Bitcoin to fall towards $1,000, which would mark a decline of over 85%. He backed his target by noting that the cryptocurrency is trading in the midst of an extended head and shoulders chart pattern, which is currently looking poised to breakdown.

Though, a key bull indicator that is unlikely to be invalidated is approaching, signaling that there may be a bullish case for the crypto market after all.

Key Bitcoin Bull Cross Approaching

Like Jack in Titanic, it seems as though it’s over for bulls. After surging 42% in a single day’s time at the end of October, Bitcoin has retraced the entirety of that move, with bulls failing to sustain the bullish trend that could’ve formed should a drop post-surge failed.

Though, this isn’t the end of the world, according to the 50-week and 100-week moving averages anyway. Analyst Crypto Bull recently observed that these two moving averages are about to see an extremely bullish “golden cross” in the coming one or two weeks, with the short-term average crossing above the long-term one. This implies that bulls have control of the market in the long term, not bears.

Indeed, this specific golden cross seemingly kickstarted the parabolic bull run that brought Bitcoin from $1,000 to $20,000 last cycle.

50/100 week ma bullish crossover in 1-2 weeks.

The last time that happened:
Price was $430 (down ~62% from ATH)
A few months before the 2nd halving

Now:
Price is $7,600 (down ~62% from ATH)
A few months before the 3rd halving pic.twitter.com/CrZi37YrfG

— Crypto฿ull (@CryptoBull) November 21, 2019

As Bull further notes, the last time this happened was in 2016, just months prior to the last halving and when the price of BTC was down 62% from its all-time high. What would you know? Bitcoin is currently 62% down from its all-time high and it is a few months out from the next halving.

History repeating would see the leading cryptocurrency begin its next parabolic run-up once the cross takes place by the end of the year, barring an utter collapse in the crypto markets.

This isn’t the only bullish argument that has been proposed over recent days. Trader Coiner Yadox recently noted that Bitcoin’s price action from the long-term bottom of $3,150 established in December of 2018 until now looks much like a textbook Richard Wyckoff pattern, which is marked by a strong surge upward after a bear market, a double-top pattern, an accumulation throwback, and then a bullish continuation after a bullish breakout.

Yadox suggested that should his interpretation of this Wyckoff pattern be correct, Bitcoin found a medium-term bottom at $7,400, and will soon see a strong breakout to the upside.

Related Reading: Echo Bubble Narrative Grows Stronger as Bitcoin Struggles to Find Support
Featured Image from Shutterstock
Tweet123Share215ShareSend
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

Bitcoin

Brazil’s Central Bank Hacked—$40M In Bitcoin And Ethereum Washed In Aftermath

Bitcoin is again in the spotlight as hackers hogged the headlines following a June 30 attack on C&M Software. The breach...

Christian Encila 4 minutes ago
Ethereum

Ethereum Ready For Explosive Breakout: $5,791 The Minimum Target–Analyst

Ethereum’s price action is gearing up for a surge of epic proportions, according to crypto technical analyst MasterAnanda on the...

Scott Matherson 13 hours ago
Bitcoin

Bitcoin Exchange Outflows Continue To Rise: Investor Confidence At An All-Time High?

The price of Bitcoin (BTC) has not been particularly impressive over the weekend, which has been a somewhat consistent theme...

Opeyemi Sule 15 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

本月最熱門迷因幣價格反彈:哪些冷門項目有望暴漲100倍?

Mark Mak 2 hours ago
Bitcoin Price Resumes Upward Move

Bitcoin Price Resumes Upward Move — Can It Break New Highs?

Aayush Jindal 5 hours ago
XRP

XRP Eyes Breakout As Analysts Predict Rally Alongside Real-World Adoption

Scott Matherson 10 hours ago

Premium Sponsors

Press Releases

  • Make $8,000 a day in stable passive income easily –...

    15 hours ago
  • SunnyMining——A passive income tool that allows ordinary...

    16 hours ago
  • Cryptocurrency is the best way to get rich quickly, easily...

    1 day ago
  • XRP Cryptocurrency × Dogecoin Mining: HASHJ launches...

    2 days ago
  • Koja kriptovaluta ima veći potencijal za stvaranje milijunaša XRP ili Shiba Inu

    Koja kriptovaluta ima veći potencijal za stvaranje...

    2 days 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.