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: REX Shares Claims Its DOGE And XRP Spot ETFs Will Be Approved By US SEC Tomorrow
  • 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: REX Shares Claims Its DOGE And XRP Spot ETFs Will Be Approved By US SEC Tomorrow

Unless Bitcoin “Spikes,” It’s Hard Not to Say This Is the Top: Analyst Explains

Nick Chong
Nick Chong
1 year ago
2 mins read
bitcoin price

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.

Despite Bitcoin bouncing at $9,000, analysts remain bearish on the leading cryptocurrency as the asset fails to recover crucial support levels.

Related Reading: Last Time Bitcoin Saw This Structure, It Surged 40%. It’s About to Happen Again

Bitcoin Prints Series of Bearish Signs Suggesting An Imminent Correction

An analyst recently remarked that if Bitcoin doesn’t bounce from here, a bearish divergence that has formed between an indicator and BTC’s price will persist. The divergence persisting, according to him, signals that this is “the top”:

“Without compounding the obvious, without a spike to undo the developing BTC divergence, this is the top,” the analyst commented, referencing the divergence formed between the momentum indicator at the bottom of the chart and the price of Bitcoin at the top of the chart.

Bitcoin price analysis from trader Cold Blooded Shiller (@ColdBloodShill on Twitter). Chart from TradingView.com
Bitcoin price analysis from trader Cold Blooded Shiller (@ColdBloodShill on Twitter). Chart from TradingView.com

The bearish sentiment has been echoed by other market participants.

As reported by NewsBTC previously, the price of BTC recently slipped under the 50-period 12-hour exponential moving average.

This technical level has been extremely important to Bitcoin since the start of 2020, acting as support during the rallies in April and May, along with marking highs earlier this year.

The level is so important that prior to dropping to $3,700, BTC was rejected at the moving average. This precedent suggests that a strong correction in the cryptocurrency market is likely in the works.

As one commentator explained:

“I’ve been seeing more and more comments saying BTC going down to support is unlikely because that’d be too big a drop. That’s not how BTC works. Retraces are short and vicious. Crashes even more so. 40% down is not unlikely, it’s happened before, it’ll happen again.”

Bitcoin price
Bitcoin price analysis from trader Don Alt. Chart from TradingView.com

Keep Your Head Up: The Long-Term Outlook Is Bullish

While there are these technical factors suggesting downside is imminent, this doesn’t take away from the fact that Bitcoin’s long-term fundamentals remain bullish.

Commenting on how the ongoing pandemic and recession has forced governments and central banks to print vast amounts of money to keep people and firms afloat, Dan Morehead of Pantera Capital recently said:

“Now that we’re in the trillions, the deficit just simply has to have a positive impact on the price of things not quantitatively-easable — stocks, real estate, cryptocurrency relative to the price of money. Said another way, the BTC/USD cross-currency rate will rise. The price of bitcoin may set a new record in the next twelve months.”

And with there being growing social unrest and geopolitical disputes, Bitcoin could grow as a safe-haven play.

Related Reading: Crypto Tidbits: Bitcoin Fails at $10k, Ethereum Coins Explode, Coinbase Looks to Add 18 Altcoins
Featured Image from Shutterstock
Price tags: xbtusd, btcusd, btcusdt
Unless Bitcoin "Spikes," It's Hard Not to Say This Is the Top: Analyst Explains
Tweet123Share220ShareSend
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.

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

Ethereum Bulls Eye New Records Despite Market Volatility — What’s Driving Sentiment?

Despite a recent bout of market volatility, Ethereum’s bullish sentiment remains strong. With ETH holding strong above key support levels,...

Godspower Owie 2 hours ago
cardano ada adausd

Cardano (ADA) Breaks Resistance: Will Bulls Drive Toward $1 or Risk Losing Support?

Cardano (ADA) is trading at $0.876 with a daily volume of $1.28 billion, but sellers remain in control after a...

James Halver 3 hours ago
Bitcoin

Bitcoin Has Taken Gold’s Role In Today’s World, Eric Trump Says

Eric Trump on Tuesday described Bitcoin as a “modern-day gold,” calling it a liquid store of value that can act...

Christian Encila 4 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 Price Faces Big Test

Bitcoin Price Faces Big Test – Resistance Could Decide Next Move

Aayush Jindal 27 minutes ago
hyperliquid-stablecoin-hylq-bets-hype-new-crypto-focus-tw

Hyperliquid引爆穩定幣通路革命 HYLQ策略押注HYPE成新興加密投資焦點

Peter Chow 29 minutes ago
ethereum eth

Ethereum Price Prediction: Citi Caps Year-End at $4,300, But ETF outflows Challenge Outlook

James Halver 1 hour ago

Premium Sponsors

Press Releases

  • 3 нискокапитализирани алткойна...

    10 hours ago
  • Топ алткойни за купуване, докато цената на Solana се доближава до исторически връх

    Топ алткойни за купуване, докато...

    12 hours ago
  • Najlepšie altcoiny na kúpu, kým cena Solany dosahuje...

    13 hours ago
  • ドージコイン 今後:ETF上場前の蓄積と価格分析が示す「事実売り」の可能性

    ドージコイン...

    14 hours ago
  • リップル 今後の行方:FOMC前に3ドルを維持、クジラが大量売却

    リップル...

    15 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.