• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
Breaking News: How Uniswap Was Deployed On The Binance Smart Chain
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: How Uniswap Was Deployed On The Binance Smart Chain
Bitcoin Price Watch BTC Analysis

Bitcoin (BTC) Price Recent Breakdown Could Accelerate Decline

Aayush Jindal by Aayush Jindal
4 years ago
in Technical analysis
Reading Time: 2 mins read
Advertisement
  • Bitcoin price failed to surpass the $11,000 resistance and recently declined against the US Dollar.
  • The price is currently trading below the key $10,600 and $10,500 support levels.
  • This week’s followed crucial bullish trend line was breached with support near $10,600 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The price is currently at a risk of more downsides below the $10,250 support area.

Bitcoin price is currently facing an increase in selling below $10,500 against the US Dollar. Therefore, BTC could accelerate its decline if there is a break below $10,000.

Bitcoin Price Analysis

Yesterday, BTC climbed above the $10,800 resistance area against the US Dollar. However, the price struggled to gain momentum above the $10,950 and $11,000 levels. A swing high was formed near $10,960 and recently the price started a downside correction. Similarly, there were bearish moves in Ethereum and ripple below $200 and $0.2700 respectively in the past few sessions.

Recently, bitcoin price declined below the main $10,600 and $10,500 support levels. Moreover, this week’s followed crucial bullish trend line was breached with support near $10,600 on the hourly chart of the BTC/USD pair. The pair is now trading below the 23.6% Fib retracement level of the upward move from the $9,488 low to $10,960 high.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

Furthermore, there was a close below the $10,400 level and 100 hourly simple moving average. An immediate support is near the $10,200 level. It coincides with the 50% Fib retracement level of the upward move from the $9,488 low to $10,960 high. If there are more downsides, the price could decline further towards the $10,000 support. The stated $10,000 support holds a lot of significance in the near term.

If the price fails to stay above the $10,000 support, it could revisit the $9,488 swing low. Additionally, the price may even tumble below the $9,488 low and trade to a new monthly low. Conversely, if there is an upside correction, the price could test the $10,400 and $10,500 resistance levels. Additionally, the main resistance is near the $10,600 level and the 100 hourly simple moving average.

Bitcoin Price Analysis BTC Chart

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

Looking at the chart, bitcoin price is facing a solid rise in selling pressure below $10,500. Therefore, there is a risk of more downsides below the $10,200 support. More importantly, a successful break below the $10,000 support might start a strong downward move. The next stop for the bears could be $9,500 and $9,200 in the coming sessions.

Technical indicators:

Hourly MACD – The MACD is gaining momentum in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently declining sharply below the 40 level.

Major Support Levels – $10,200 followed by $10,000.

Major Resistance Levels – $10,400, $10,500 and $10,600.

Tags: bitcoinbtc
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Aayush Jindal

Aayush Jindal

Aayush is a Senior Forex, Cryptocurrencies and Financial Market Strategist with a background in IT and financial markets. He specialises in market strategies and technical analysis, and has spent over a DECADE as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin and Ethereum markets.

Related Posts

bitcoin price dead death cross

Bitcoin Officially Back From The Dead As Price Moves Above “Death Cross”

2 days ago
BNB

BNB Price Surges Over 20% in a Week And Rally Seems Far From Over

2 days ago
Ethereum

Ethereum Price Seems Ready For Another Leg Higher Over $1,750

2 days ago
Bitcoin

Bitcoin Price Restarts Rally As The Bulls Target New Monthly High

2 days ago
Solana vs Cardano

Cardano Vs Solana: Which Is The Better Investment For The Next Bull Market?

2 days ago
bitcoin price mark up wyckoff

This Bitcoin Wyckoff Schematic Says Massive Price Mark Up Comes Next

2 days ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
Coinplay

Coinplay

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

2022’s Crypto Market Crash Distant Memory As Brands Like Metacade Lead Bull Run

March 18, 2023

Top 8 Presales in the Crypto Space for 2023

March 18, 2023

Make Money Gaming With DigiToads and Axie Infinity

March 18, 2023

Earn Passive Income with Binance Coin, Shiba Inu, and Avorak AI

March 18, 2023

Polygon (MATIC) and Avalanche (AVAX) suffer during market downfall, While TMS Network (TMSN) to give tremendous returns to investors

March 18, 2023

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.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games
  • Free Spins
  • Play Finance

© 2022 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.