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

“Perfect Storm” of Technicals Indicates Bitcoin May Plunge After Hitting $9,500

Nick Chong
Nick Chong
1 year ago
3 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.

After holding the low-$9,000s for days on end, Bitcoin has attempted to break out over recent hours. The cryptocurrency trades at $9,250 as of the time of this article’s writing, having established a local peak at $9,300.

Technical analysis, unfortunately, confirms that BTC may soon see a rejection.

Bitcoin Could See a Strong Rejection at $9,500: Here’s Why

There’s a perfect storm of technical factors suggesting that Bitcoin will sustain a rejection at $9,500.

A cryptocurrency trader shared the chart below on July 1st in an attempt to convey this sentiment. It shows that within a few dozen basis points of $9,500, there is a large confluence of technical resistance levels. These include but are not limited to:

  • A daily pivot level
  • June’s volume-weighted average price
  • The four-hour 200 simple moving average
  • The price Bitcoin traded at on June 1st.
  • A descending trendline that marked three distinct highs over the past month.
  • The 61.8% Fibonnaci retracement of the $10,500 highs.

Image

Important Bitcoin levels analysis from trader "Coiner-Yadox" (@yodaskk on Twitter). Chart from TradingView.com

The fact that so many technical resistance levels currently exist at $9,500 suggests that a sell-off will take place once this zone is reached.

Only adding to the chance that takes place, Bitcoin is also facing down a sell wall in that region.

As reported by NewsBTC previously, the same analyst observed that there was over $10 million worth of sell orders on Binance right at $9,500. It is unclear if those orders are still there, yet there are many traders online identifying $9,500 as a point at which Bitcoin’s micro-rally will reverse.

Image

BTC chart over the past few days with order book dominance indicator from trader "Coiner-Yadox" (@yodaskk on Twitter)

One analyst implied that Bitcoin reaching $9,500 will confirm his bearish macro sentiment.

He wrote: “I don’t want any correction, I want to see price continue to extend into $9,500 on BTC. It would play into my macro thoughts if this happens.”

This comes shortly after the same analyst suggested that Bitcoin is likely trading in a high time frame pattern of “distribution” predicting a drop under $7,000.

What Happens if BTC Crosses $9,500?

With $9,500 clearly being an important level for Bitcoin, what will happen if the cryptocurrency crosses and secures that level?

According to some, it would confirm that more upside is likely.

One trader shared that Bitcoin is currently cleared to move lower, though his opinion will change if $9,500 is flipped into support.

“This is the current path that PA could be looking to take, buyers defended the initial breakdown in high 8000’s range which is a good start, next level to test is $9250… To flip to a bullish bias $9500 needs to be flipped into support on a daily timeframe.”

Image

Bitcoin price analysis by trader Cactus (@TheCryptoCactus on Twitter). Chart from TradingView.com
Photo by Michael Rogers on Unsplash
Charts from TradingView.com
Price tags: xbtusd, btcusd, btcusdt
"Perfect Storm" of Technicals Indicates Bitcoin May Plunge After Hitting $9,500
Tweet123Share196ShareSend
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

Solana

Solana Builds Case For Next Leg Up As Moving Averages Underscore Bull Run

Solana is strengthening its bullish outlook, with recent price action showing firm momentum above key moving averages. This strength underscores...

Godspower Owie 4 hours ago
Bitcoin Binance

Bitcoin Touches $117,000 As Binance Records 9 Days Of Outflows

Bitcoin has observed a recovery surge toward $117,000 as on-chain data shows Binance users have been making consistent withdrawals recently....

Keshav Verma 5 hours ago
xrp-integration-etf-us

XRP intégré au sein d’un ETF US, bientôt les 4,50$ ?

XRP n’a jamais quitté la scène, mais il a longtemps été relégué au second plan. Entre procès avec la SEC,...

guillaumev 6 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

Ethereum

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

Godspower Owie 19 minutes ago
cardano ada adausd

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

James Halver 1 hour ago
Bitcoin

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

Christian Encila 2 hours ago

Premium Sponsors

Press Releases

  • 3 нискокапитализирани алткойна...

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

    Топ алткойни за купуване, докато...

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

    11 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...

    12 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...

    12 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.