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: Tether Targets $500 Billion Valuation In New Equity Offering Amid US Expansion Plans
  • 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: Tether Targets $500 Billion Valuation In New Equity Offering Amid US Expansion Plans

Here’s the “Line in the Sand” That Will Mark a Major Turning Point for Bitcoin

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 bulls were able to propel the cryptocurrency past a key resistance level overnight, with BTC rallying up to highs of $9,200 before meeting some resistance that has since led it to dip slightly lower.

It now appears that BTC is in the process of testing a key resistance level that marks a “line in the sand,” with its reaction to this level setting the tone for where it trends in the year ahead.

Technical analysis seems to suggest that the cryptocurrency is on the cusp of seeing significantly further momentum, which could mean that this critical resistance region will soon be decisively broken above.

Bitcoin Rallies Past $9,000 as Technical Strength Grows

Over the past few days, Bitcoin had been caught within a firm bout of rangebound trading, which had led the cryptocurrency to trading between highs of $8,900 and lows of $8,400 for several days.

Today’s upwards movement marks a bullish resolution to this bout of sideways trading and may suggest that the crypto will see further upwards momentum due to the technical strength that was generated as a result of this upwards break.

Rob Sluymer – a veteran institutional analyst – spoke about Bitcoin in a recent tweet, explaining that this recent rally is “important” because it comes close on the heels of a retracement to a key level.

“BTC looks to be making a potentially important turn to the upside after: 1) Stalling, yet again, at resistance between a 50-62% retracement of the 2H 2019 rally 2) Retracing 50% of the December-February rally back to a support band between 8.1-8.4K with daily RSI bottoming,” he explained while pointing to the below charts.

$BTC looks to be making a potentially important turn to the upside after:

1) Stalling, yet again, at resistance between a 50-62% retracement of the 2H 2019 rally

2) Retracing 50% of the December-February rally back to a support band between 8.1-8.4K with daily RSI bottoming pic.twitter.com/QAtixsNo0r

— Robert Sluymer (@rsluymer) March 5, 2020

BTC is Pushing Against a Key “Line in the Sand”

This potentially bullish bounce following Bitcoin’s intense retracement is leading the cryptocurrency up against a critical resistance level, with its reaction to this level setting the tone for where it trends in the weeks and months ahead.

Big Chonis, a well-respected analyst on Twitter, spoke about this level in a recent tweet, explaining that it is still acting as major resistance.

“BTC – another backtest of this level of previous major support still acting as resistance… if there was ever a ‘line in the sand’ it’s around this level…bitcoin daily chart,” he explained.

$BTC – another backtest of this level of previous major support still acting as resistance… if there was ever a “line in the sand” it’s around this level…#bitcoin daily chart pic.twitter.com/IQebJsLC5Y

— BIG Chonis (@BigChonis) March 5, 2020

If Bitcoin is able to decisively break above this level, it could give the benchmark crypto room to post a significant rally.

Featured image from Shutterstock.
Tweet123Share221ShareSend
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

Ethereum

Wedge Breakout Or False Alarm? Ethereum Faces Its Biggest Support Test Yet

Ethereum’s price action is at a decisive point after breaking out of a rising wedge pattern. While the move initially...

Godspower Owie 4 hours ago
crypto-com-hack-crypto-accusation-dissimulation

Crypto.com accusé de dissimulation après une brèche de sécurité révélée

Bloomberg affirme qu’une intrusion survenue en 2023 chez Crypto.com a exposé des données d’utilisateurs. En plus, l’échange n’a pas communiqué...

evanss 4 hours ago
microstrategy-version-avalanche-investissement-entreprise-us

Un “MicroStrategy” version Avalanche ? 700 M$ d’AVAX achetés par une entreprise US

Une société américaine va lever 550 M$ pour acheter de l’AVAX et viser plus de 700 M$ de jetons en...

evanss 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

avalanche avax avaxusd

AVAX Price Prediction: Bulls Target $50 With Treasury Inflows, and Tokenization Momentum

James Halver 1 hour ago
Tether

Tether Targets $500 Billion Valuation In New Equity Offering Amid US Expansion Plans

Ronaldo Marquez 1 hour ago
Bitcoin

Here’s The Boundary Bitcoin Bulls Must Defend To Save Rally

Keshav Verma 2 hours ago

Premium Sponsors

Press Releases

  • Az altcoin szezon itt van. Ez a három tényező hajthatja a bikapiacot

    Az altcoin szezon itt van. Ez a három tényező hajthatja...

    2 hours ago
  • Sezon na altcoiny już tu jest. Te trzy czynniki mogą napędzać hossę

    Sezon na altcoiny już tu jest. Te trzy czynniki mogą...

    4 hours ago
  • Sezonul altcoin este aici. Acești trei factori sunt văzuți ca motoare ale raliului

    Sezonul altcoin este aici. Acești trei factori sunt...

    8 hours ago
  • ドージコイン 今後の価格予測:ウォールストリートが注目する「1ドル圏」への道

    ドージコイン...

    10 hours ago
  • Сезонът на алткойните е тук. Три фактора се очаква да задвижат ралито

    Сезонът на алткойните е тук. Три...

    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.