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: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • 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: Coinbase Confirms DOJ Investigation Following Major Security Incident

Bitcoin Needs to Reclaim This One Crucial Level to See Further Upside

Cole Petersen
Cole Petersen
1 year ago
2 mins read
Chainlink

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 has been flashing signs of overt weakness throughout the past few hours, dropping as low as $10,400 before facing an influx of buying pressure that allowed its price to surge back up to highs of $10,800.

The cryptocurrency now appears to be caught within a short-term consolidation phase as bears and bulls fight for control over its near-term trend.

This may cause it to see some range-bound trading in the near-term, but analysts are noting that its outlook still remains positive as long as it continues defending one crucial support level.

That being said, how BTC closes its daily candle should offer significant insights into its near-term outlook, as a failure for it to close above $11,000 could be highly damaging for its market structure.

One analyst believes that this type of close will lead it to plunge down towards the lower-$10,000 region, which is where it may trade for an extended period of time.

Bitcoin Struggles to Find Strong Support as Selling Pressure Ramps Up 

After losing its position within the $11,000 region, Bitcoin has been expressing signs of immense weakness as its price trades within the mid-$10,000 region.

At the time of writing, Bitcoin is trading down over 7% at its current price of $10,600, which marks a massive decline from its weekly highs of $12,200 that were set just a few days ago.

Analysts are offering mixed outlooks on the benchmark cryptocurrency, but there is a general consensus that its next massive support sits around $9,600.

That being said, one trader noted that the support at $10,500 should be enough to provide some near-term relief.

“BTC update: There we go, now it can bounce. Wouldn’t get too bullish on that bounce, but ~$10900 seems sane,” he explained.

Bitcoin

Image Courtesy of Don Alt. Chart via TradingView.

BTC Approaches Critical Daily Close as Analysts Watch for Reaction to $11,000

As Bitcoin’s daily close approaches, how it responds to $11,000 will be crucial for determining its near-term outlook.

One analyst spoke about the importance of this level in a recent tweet:

“BTC HTF Update: Huge resistance region around $11,400 seems to be rejecting on HTF charts, honestly the next logical support if we close current daily below $11,000 is likely $10,400. Happy to have close some positions at the local top, currently sitting in the sidelines atm.”

Image Courtesy of Cactus. Chart via TradingView.

If Bitcoin is rejected at $11,000, it is reasonable to expect it to see significantly further near-term downside.

Featured image from Unsplash.
Charts from TradingView.
Tweet123Share196ShareSend
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.

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

Bitcoin Back In ‘Retesting Phase’ After Key Level Reclaim – The Calm Before The Storm?

After achieving its highest weekly close to date, Bitcoin (BTC) is now attempting to confirm two crucial levels as support...

Rubmar Garcia 2 hours ago

本月最值得關注的5枚迷因幣與預售項目—10倍潛力幣一覽

進入2025年7月,加密貨幣市場重新迎來活躍期。在全球政治動盪與金融格局重組的背景下,資金不斷從傳統市場流向去中心化領域,形成了新一輪的代幣熱潮。在這樣的市場情緒中,迷因幣與預售項目的表現尤為亮眼。 ...

Mark Mak 3 hours ago
Dogecoin

Dogecoin Resistance Walls Ahead: Analyst Flags 3 Key Levels

An analyst has pointed out three key resistance levels for Dogecoin that could be to keep an eye on, based...

Keshav Verma 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 crash

50% Bitcoin Price Crash On The Horizon? Analyst Reveals $60,000 Target

Scott Matherson 10 minutes ago

Станут ли 600 000 BTC точкой невозврата?

lisachaikina 49 minutes ago
Strategy

No New Bitcoin Buys: Strategy Takes A Breather After 3 Consecutive Months

Ronaldo Marquez 1 hour ago

Premium Sponsors

Press Releases

  • Alternativni kripto uz DOGE koji bi mogao pretvoriti 650 $...

    1 minute ago
  • Token6900

    TOKEN6900: Meme Coin Tiềm Năng Với Presale Rẻ...

    5 minutes ago
  • Predviđanje Cijene Bitcoin Hyper ($HYPER) Šta Donosi 2025., 2026. i 2030. godina

    Bitcoin Hyper Gọi Vốn 2 Triệu USD Trong Presale Khi...

    14 minutes ago
  • 3 altcoinuri de urmărit în prima săptămână a lunii iulie 2025

    4 Alt coin Tốt Nhất Tuần Này Dựa Trên Tiện...

    23 minutes ago
  • EstateX Appoints Former RE/MAX Leader as Web2 CEO After...

    1 hour ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

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.