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: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
  • 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: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

This Simple Factor Shows Bitcoin’s Selloff Not as Bearish as it Seems

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 market have seen an intense overnight selloff, which comes close on the heels of the bearishness that the markets experienced over the weekend when BTC plummeted below $10,000 in a violent movement.

This downwards momentum, however, may not last long, as one prominent analyst is noting that it is not a high time frame trend change, and that bears are currently fighting against oversold conditions.

If this possibility proves to be valid, then BTC could soon see a sharp upwards movement that is fueled by overleveraged short positions, which could lead the crypto back into the coveted five-figure price region.

Bitcoin Plunges to Key Support as Bears Attempt to Alter Its Market Structure 

At the time of writing, Bitcoin is trading down just under 4% at its current price of $9,580, which marks a notable decline from daily highs of just over $10,000 that were set early yesterday.

This recent bounce to $10,000 occurred when bulls attempted to reverse the bearishness that sparked from the crypto’s initial drop below this price level, but the swift rejection that occurred at this level seems to suggest that it has flipped from support to resistance.

In the near-term, however, BTC may start seeing some further upwards momentum, as the oversold conditions on lower time frames show that bears are fighting against a firm uptrend that still remains intact.

Mr. Anderson, a prominent cryptocurrency analyst, spoke about this bullish possibility in a recent tweet, in which he claims that a Countertrend Algorithm shows that this ongoing pullback is both healthy and to be expected.

“BTC Countertrend: This High Time Frame (Daily) Countertrend Algo shows us that a pullback was certainly predictable and due. However, it is likely to be short lived (not a HTF trend change) since Bears need to work fast to avoid a series of oversold conditions on low time frames,” he explained.

$BTC Countertrend

This High Time Frame (Daily) Countertrend Algo shows us that a pullback was certainly predictable and due

However, it is likely to be short lived (not a HTF trend change) since Bears need to work fast to avoid a series of oversold conditions on low time frames pic.twitter.com/aZWGn1NoRk

— Mr. Anderson (@TrueCrypto28) February 17, 2020

Holding Above $9,500 Could Allow BTC to Surge to $10,200 

In the near-term, in order for the bullish possibility mused by Mr. Anderson to remain valid, it is imperative that bulls hold the crypto above $9,500.

HornHairs, another prominent trader on Twitter, spoke about this level, explaining that a firm defense of it could allow BTC to rally up to $10,200.

“BTC long: Last attempts at longing around these levels. Will continue to punt until 9.5k breaks on a daily close. Playing the trend until it breaks. Another sweep, this time into previous consolidation highs,” he said while pointing to the chart seen below.

$BTC long:

Last attempts at longing around these levels. Will continue to punt until 9.5k breaks on a daily close.

Playing the trend until it breaks.

Another sweep, this time into previous consolidation highs. pic.twitter.com/UznHhUeTDQ

— HornHairs 🌊 (@CryptoHornHairs) February 17, 2020

How Bitcoin responds to the extension of its downwards momentum that was incurred earlier today should provide some insight into its short-term trend.

Featured image from Shutterstock.
Tweet123Share220ShareSend
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 Price Break Above $118,000 Just The Start, Analyst Unveils ‘Golden Number’

Bitcoin has rallied massively over the past seven days by posting an impressive price gain of nearly 9% after climbing...

Scott Matherson 11 hours ago

Pi Network Turns Heads With Symbolic Transfers, $20M Volume Spike

The Pi Network coin dipped to $0.46 today, slipping 6% in the past 24 hours. Yet trading volume jumped to...

Christian Encila 12 hours ago

Web2 Habits, Web3 Rewards: How FUNToken Makes Crypto Feel Natural

Millions of users spend hours each day engaged with mobile games, chat communities, and social platforms. They expect seamless interfaces,...

News BTC 13 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

Gemini分析比特幣升勢帶動示新牛市周期 Bitcoin Hyper等Layer 2項目引爆關注!

Kelvin Lee 3 hours ago
Cardano price

Cardano Price Explodes 30% In Past Week — Analyst Calls $5 Next Market Top

Opeyemi Sule 4 hours ago
Bitcoin

Bitcoin Bulls In Cloud 9? Analyst Identifies Where Risk Lies

Opeyemi Sule 8 hours ago

Premium Sponsors

Press Releases

  • ビットコインが11万8,000ドルの最高値を記録する中で注目すべき仮想通貨プレセール

    ...

    12 hours ago
  • 仮想通貨 おすすめ|急騰するDogwifhatとFartcoin、注目の低価格ミームコインとは?

    仮想通貨...

    12 hours ago
  • 新しい仮想通貨価格動向|話題の最新コインの成長可能性

    ...

    12 hours ago
  • アルトコイン注目銘柄|2025年7月第2週に見るべき3銘柄

    ...

    12 hours ago
  • ロビンフッドが1ドルから始めるETHとSOLのステーキングを開始──今注目の仮想通貨投資はこれだ?

    ...

    13 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.