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: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30
  • 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: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30

Bitcoin Eyes Last Line of Defense But Can Bulls Save This Crucial Support?

Aayush Jindal
Aayush Jindal
1 year ago
2 mins read
Bitcoin

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 is declining and trading below the key $7,800 support against the US Dollar. BTC price could soon test the main $7,400-$7,500 support area where the bulls might take a stand.

  • Bitcoin is extending losses and it may even slide below the $7,600 area against the US Dollar.
  • The bulls are likely to take a strong stand near the $7,500 and $7,400 support levels.
  • There is a major declining channel forming with support near $7,550 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair remains at a risk of a massive drop if it fails to stay above the $7,400 support.

Bitcoin is Approaching Major Support

After testing the $7,600 area, bitcoin price corrected a few points against the US Dollar. BTC price traded above the $7,800 level, but it stayed well below the 100 hourly simple moving average.

It seems like the price fails to gain strength above the $8,000 level. A swing high is formed near $7,988 and the price is currently declining. There was a break below the $7,800 support level to start a fresh decline.

Moreover, the price broke the 61.8% Fib retracement level of the recent wave from the $7,578 low to $7,988 high. It opened the doors for more losses below $7,700. Bitcoin is now trading near the $7,600 level and approaching the last low at $7,578.

There is also a major declining channel forming with support near $7,550 on the hourly chart of the BTC/USD pair. If the pair fails to stay above the channel support and $7,578, there is a risk of a downside thrust in the near term.

Bitcoin Price
Bitcoin Price

On the downside, there are a few important supports near the $7,500 and $7,400 levels (as discussed in one of the previous analyses using the daily chart). If BTC fails to stay above the $7,400 support, there is a risk of a sharp decline towards the $7,000 level.

Fresh Recovery

If bitcoin finds a solid buying interest near $7,500 or $7,400, it may perhaps start a fresh recovery in the coming sessions. An initial resistance on the upside is near the $7,800 level.

To move into a positive zone, the price must surpass the $8,000 resistance area. In the mentioned case, there are chances of a decent comeback towards the $8,400 and $8,500 levels.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently declining towards the 25 level.

Major Support Levels – $7,500 followed by $7,400.

Major Resistance Levels – $7,800, $8,000 and $8,200.

Tweet123Share206ShareSend
Aayush Jindal
Aayush Jindal

Aayush Jindal

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

Read more

From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.

Close

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

American Bitcoin, Backed By Trump, Ends Nasdaq Debut Up 17%

American Bitcoin, a mining company tied to US President Donald Trump’s sons Eric and Donald Trump Jr., wrapped up its...

Christian Encila 1 hour ago
maxi doge

Dogecoin στα $4; Το Maxi Doge μπορεί να φτάσει εκεί πρώτο, καθώς το αληθινό alpha τρέχει προς τα $2M στο ICO

Το Dogecoin (DOGE) έχει στο τραπέζι μια τολμηρή πρόβλεψη τιμής στα $4, παρόλο που δεν έχει καταφέρει ακόμη να ξεπεράσει...

Ιωάννης Ριζόπουλος 1 hour ago

狗狗幣有望漲到 4 美元? Maxi Doge 或搶跑 正衝擊 200 萬美元 ICO

狗狗幣(DOGE)雖然連 1 美元都還沒站穩,但市場上已經有人放出豪言:目標 4 美元。不過在它真正沖關之前,加密狗陣營裡已經冒出了一隻新猛獸:Maxi Doge (MAXI)。 MAXI 正以真·A...

estherw 1 hour 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 ETF news

First US Dogecoin ETF Could Debut Next Week—How Will It Impact Price?

Jake Simmons 22 minutes ago

Trendošā jaunā mēmu monēta TOKEN6900 gatavojas uzlidojumam – vai tā būs nākamā SPX6900?

lasma 39 minutes ago
Crypto Market Heats Up as Corporate Bitcoin Treasuries Reach 1M – Here are the Best Cryptos to Buy

Crypto Market Heats Up as Corporate Bitcoin Treasuries Reach 1M – Here are the Best Cryptos to Buy

Aaron Walker 56 minutes ago

Premium Sponsors

Press Releases

  • ChatGPT予測によるソラナ400ドルと注目の仮想通貨おすすめ銘柄

    ...

    1 hour ago
  • 新しい仮想通貨のプレセール、クジラ投資で1,500万ドル目前

    ...

    1 hour ago
  • 1M BTC超を蓄積する企業財務、1110億ドル規模へ拡大──アルトコイン市場が躍進

    1M...

    1 hour ago
  • 9月注目の仮想通貨1000倍候補 ― Grokの最新予測

    9月注目の仮想通貨1000倍候補 ―...

    2 hours ago
  • 仮想通貨プレセールが1,400万ドル目前、アナリストはBTC19万ドルを予測

    ...

    2 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.