• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Play FinanceTry
  • Claim 7 BTCTry
No Result
View All Result
Breaking News: Bitfinex And Crypto Bank OrionX Forged Partnership To Broaden Presence In Latin America
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Play FinanceTry
  • Claim 7 BTCTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: Bitfinex And Crypto Bank OrionX Forged Partnership To Broaden Presence In Latin America
<>

Bitcoin Price Down; Here’s What We’re Watching

Samuel Rae by Samuel Rae
8 years ago
in Technical analysis
Reading Time: 2 mins read

The bitcoin price has struggled over the last couple of days, as we have seen a number of sharp breaks of support translate to some downside momentum. However, today, following yesterday’s break, action has ranged throughout the majority of the day, and we are now trading just shy of a key level that – if broken – could spark a reversal and finally give us some bullish action in the bitcoin price this evening. That said, if current levels hold, it is likely that overnight we will see a return to the overarching bearish momentum. So, what are the levels that we are keeping an eye on in the bitcoin price as we head into the US afternoon session, and how can we enter on a break of these levels? As usual, take a look at the chart.

bitcoin price

As the chart shows, we are currently trading between what now serves as in term support at 220.65 and resistance at 226.36. These are the two levels that we will be watching this evening. We are currently trading just short of the latter of these two levels, and so we will initially look for a break above 226.36 to validate a medium-term bullish bias with a primary target of 231.20; a stop loss somewhere around 244 keeping the trade risk-defined.

Looking the other way, if current levels hold, we will look for a break below in term support at 220.65 to validate a bearish bias with an initial downside target of 215 flat. In this trade, a stop loss somewhere around 223.50 will maintain a positive risk reward profile.

For the more aggressive trader, if current levels hold and we get a rejection at resistance, a short trade towards in term support with a stop somewhere around 228 flat could be a nice, aggressive, range type short trade.

Charts Courtesy of Trading View

Tags: bitcoin chartsbitcoin pricebitcoin technical analysislearn to trade bitcoinNewstrade bitcoin
Tweet123Share196ShareSend
Samuel Rae

Samuel Rae

Related Posts

Ripple (XRP)

XRP Price Prediction: Bulls Aim Big After Recent Surge Above $0.5

1 day ago
Ethereum

Ethereum Price Smashes Resistance, $1,900 Could Be Next

1 day ago
Bitcoin

Bitcoin Price Faces Confluence of Bearish Factors And Could Decline Heavily

1 day ago
Bitcoin Crypto Market Altcoins BCH ETH XRP BNB ADA TRX EOS

BNB Price Prediction: Risk of Sharp Drop Below $300

2 days ago
Ethereum Price ETH

Ethereum Price Topside Bias Vulnerable If It Continues To Struggle Below $1,920

2 days ago
Bitcoin

Bitcoin Price Takes Hit – Upsides Turn Attractive To Sellers

2 days ago

Premium Partners

Play Finance

Now Trending

  • Potential 20x+ Crypto Presales 2023

    3 days ago
  • Willing to buy new crypto: Here are the best 10...

    3 days ago
  • Best Crypto Meme Coin Presales in 2023

    3 days ago

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

  • Social Trading Phenomenon – How It Has Changed the...

    38 mins ago
  • Don’t get dumped on buying DOGE or SHIB, Avorak has...

    14 hours ago
  • Crypto Enthusiasts Believe DigiToads (TOADS) and Aave...

    14 hours ago
  • Investors Seeking High-Yield Cryptocurrency Investments...

    15 hours ago
  • Choosing the best Forex broker | A Comprehensive Guide

    19 hours ago

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.

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

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Claim 7 BTC

© 2023 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.