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: Bitcoin, Ethereum, And XRP In Freefall: What’s Driving The Current Crypto Slump?
  • 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: Bitcoin, Ethereum, And XRP In Freefall: What’s Driving The Current Crypto Slump?

BTC Price Tech Analysis for 03/24/2017 – New Triangle Forming!

newsbtc
newsbtc
1 year ago
2 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.

Bitcoin Price Key Highlights

  • Bitcoin price is forming lower highs and higher lows, creating a symmetrical triangle formation on its 1-hour time frame.
  • Price is currently testing support and could be due for a bounce back to resistance at $1075.
  • Technical indicators seem to be hinting that further decline are in the cards.

Bitcoin price is back to consolidation mode and is moving inside a new symmetrical triangle pattern. 

Technical Indicators Signals

The 100 SMA is below the longer-term 200 SMA so the path of least resistance is to the downside. In other words, a move lower could be more likely than a rally, which suggests that a test of the resistance could still keep bitcoin price inside the triangle. In addition, the 200 SMA lines up with the triangle support, adding to its strength as a near-term ceiling.

If selling pressure is strong enough, a downside break of the triangle support could occur. Stochastic is heading south so bitcoin price might follow suit. RSI is somewhere around the middle, reflecting sideways action, but also appears to be pointing slightly lower as well.

A break below support at $1000 could take bitcoin price to the longer-term floor closer to $950. On the other hand, an unlikely break past the resistance could open the door for another strong rally back to the record highs or at least until the $1200 area.

Market Events

Bitcoin price is under heavy selling pressure these days due to the looming hard fork, as analysts worry that a new version of the bitcoin software could invalidate the ones from the older version. However, the issue of scalability needs to be addressed at some point so it could hinge on how the network consensus sides.

Meanwhile, the US dollar is also losing its appeal as the healthcare vote was delayed in Congress. This is seen to be a test of the Trump administration’s resolve, possibly setting the tone for how they could push their agenda in terms of other policy changes such as tax reform, infrastructure spending, and financial deregulation. Some say the vote is rescheduled to later today but the lack of an outcome or a loss for “Trumpcare” could mean dollar losses.

Charts from SimpleFX

Tweet123Share196ShareSend
newsbtc
newsbtc

newsbtc

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

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

Dogecoin (DOGE) Extends Losses –

Dogecoin (DOGE) Extends Losses – Is This the Final Shakeout Before Big Rally?

Dogecoin started a fresh decline below the $0.2550 zone against the US Dollar. DOGE is now consolidating and might dip...

Aayush Jindal 3 hours ago
Bitcoin Fear

Bitcoin Fear & Greed Index Signals ‘Fear’ As Price Falls To $112,000

Data shows the Bitcoin Fear & Greed Index has slipped back into the fear territory following the crash in the...

Keshav Verma 3 hours ago
XRP Price Rebound Faces Wall

XRP Price Rebound Faces Wall – Key Technicals Suggest Limited Upside Ahead

XRP price started a fresh decline below the $2.920 zone. The price is now showing bearish signs and might decline...

Aayush Jindal 3 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

Memecoins krenta, tačiau Snorter Bot toliau ieško naujų galimybių – ICO pasiekė $4 mln.

Memecoins krenta, tačiau Snorter Bot toliau ieško naujų galimybių – ICO pasiekė $4 mln.

Tomas Jankūnas 43 minutes ago
Ethereum Price Faces Tough Road

Global M2 Money Supply Says Ethereum Price Will Reach $20,000, Here’s When

Scott Matherson 1 hour ago
Ethereum, ETH, Crypto

Analyst Says Ethereum Bounce Is Imminent As BitMine Continues To Accumulate

Rubmar Garcia 2 hours ago

Premium Sponsors

Press Releases

  • Altcoin sezóna je tu. Tyto tři faktory mohou pohánět rally

    Altcoin sezóna je tu. Tyto tři faktory mohou pohánět...

    4 minutes ago
  • Najlepsze altcoiny do kupienia, gdy cena Solany zbliża...

    4 minutes ago
  • Altcoin sezóna je tu. Tieto tri faktory môžu poháňať rally

    Altcoin sezóna je tu. Tieto tri faktory môžu poháňať...

    16 minutes ago
  • 5 mincí, které by v kryptobublině v roce 2025 mohly dosáhnout 10 miliard dolarů

    5 mincí, které by v kryptobublině v roce 2025 mohly...

    14 hours ago
  • 5 érme, amelyek 2025-ben elérhetik a 10 milliárd dollárt a kriptobuborékban

    5 érme, amelyek 2025-ben elérhetik a 10 milliárd...

    14 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.