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: ‘Crypto Week’ Takes A Hit: US House Fails To Advance Key Acts
  • 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: ‘Crypto Week’ Takes A Hit: US House Fails To Advance Key Acts

Bitcoin Faces Another Rejection, But Here’s Why the Bull Case Remains Strong

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 has fallen into a bearish pattern of incurring major upwards movements that are followed by nearly instant rejections, which leaves behind large wicks on BTC’s candle chart and typically spells trouble for which direction it trends in the near-term.

Yesterday, Bitcoin further extended this pattern after it incurred a fleeting surge up to highs of nearly $7,500 on popular trading platforms like BitMEX, with this movement nearly instantly retracing all the way back down to where it started.

In spite of this bearish movement, analysts are noting that the bull case may not be nullified yet, as one historically accurate technical factor signals that Bitcoin may soon see some much-needed bullishness.

Bitcoin Stuck at $7,200 Following Fleeting Movement 

At the time of writing, Bitcoin is trading down roughly 1% at its current price of $7,225, which marks a notable decline from its daily highs of $7,500 that were set during yesterday’s brief upwards movement.

Over the past couple of days, BTC has been able to find a decent amount of support around $7,200, although it remains unclear as to just how long this support will last as bears continue gaining an edge over bulls.

While looking at Bitcoin’s daily chart, Scott Melker – a popular cryptocurrency analyst who goes by the name “The Wolf of All Streets” – explained that bull divergence could mean that the current lows will mark a mid-term bottom for the crypto.

“I bought Bitcoin again. We have a potential bull div now on the DAILY chart (call me in 22 hours) and lower time frames. Also, price just wicked below the previous swing low and bounced a bit – bullish SFP?” He explained while pointing to the chart below.

I bought Bitcoin again. We have a potential bull div now on the DAILY chart (call me in 22 hours) and lower time frames. Also, price just wicked below the previous swing low and bounced a bit – bullish SFP? pic.twitter.com/kQFBWArCUO

— The Wolf Of All Streets (@scottmelker) December 12, 2019

Analyst: Bullish BTC Divergence Confirmed on Lower Time Frames as Well

Further enhancing the bullish sentiment that Melker discusses above is the fact that that Bitcoin is expressing similarly bullish price divergences on shorter time frames as well, including its 4-hour chart.

“We now have a confirmed 4 hour bull div as well. I love seeing lower time frame divs confirmed on higher time frames. Daily next? Es possible,” Melker noted.

We now have a confirmed 4 hour bull div as well. I love seeing lower time frame divs confirmed on higher time frames. Daily next? Es posible. pic.twitter.com/ymwSSSnXDl

— The Wolf Of All Streets (@scottmelker) December 12, 2019

The bullishness currently seen on multiple time frames may give Bitcoin’s bulls some much needed relief in the near-term, although this possibility will only be confirmed if the cryptocurrency is able to see some upwards momentum.

Featured image from Shutterstock.
Tweet123Share225ShareSend
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

SharpLink Gaming Buys $73M in Ethereum – Smart Money Loads the Dip

SharpLink Gaming Buys $73M in Ethereum – Smart Money Loads the Dip

Ethereum is undergoing a critical test after breaking above the key $2,850 resistance level and reaching a local high of...

Sebastian Villafuerte 3 hours ago
Crypto

‘Crypto Week’ Takes A Hit: US House Fails To Advance Key Acts

In a major blow for the crypto industry, several bills championed by President Donald Trump failed to pass a crucial...

Ronaldo Marquez 3 hours ago
Cardano

A Breakout To Remember: Cardano Price Mirrors Market Conditions That Led To $3.10 ATH

Crypto analyst Scrambler has drawn attention to a bullish pattern that is forming for the Cardano price, which could lead...

Scott Matherson 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

Bitcoin

Bitcoin Returns Under $117,000: Is Social Media FOMO To Blame?

Keshav Verma 38 minutes ago
Chainlink

Chainlink Bullish Trigger: Why $16 Holds The Key To The Next Rally

Godspower Owie 1 hour ago
Ethereum

Ethereum Forms ‘Pure Cup And Handle’ Pattern After Hitting $3,000, Analysts Set New Targets

Scott Matherson 2 hours ago

Premium Sponsors

Press Releases

  • e 3 coiny poniżej 1 dolara mogą zamienić 200 dolarów w...

    2 hours ago
  • ミームコインの価格急騰が続く中、注目の仮想通貨プレセールが50万ドルを突破し、次の100倍コインになる可能性がある。

    ...

    8 hours ago
  • 仮想通貨おすすめ|ビットコイン強気派の一休み中に買うべき銘柄

    ...

    8 hours ago
  • 2025年注目の新しい仮想通貨|Solana発 次世代ミームコインが投資家の期待を集める

    2025年注目の新しい仮想通貨|Solana発...

    9 hours ago
  • 2025年7月第2週にクジラが購入した注目のアルトコイン

    ...

    9 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.