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 Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
  • 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 Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Bitcoin Price Analysis for 08/10/2016 – Stuck in a Range!

newsbtc
newsbtc
1 year ago
2 mins read
bitconi

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 has been moving sideways on the slowdown in volatility, stuck in a range between support at $575 and resistance at $590.
  • Price appears to be bouncing off the top of the range once more, gearing up for another test of support.
  • However, technical indicators are suggesting that a breakout could take place.

Bitcoin price is settling inside a range but technical indicators seem to be hinting at an upside breakout.

Technical Indicators Signals

The 100 SMA is still above the longer-term 200 SMA on this time frame, signaling that the path of least resistance is to the upside. Price is currently testing the dynamic support at the 100 SMA, with another potential floor at the 200 SMA nearby. The gap between the moving averages seems to be narrowing, suggesting a possible downward crossover later on.

Stochastic is on the move up so bitcoin price might follow suit. An upside breakout past the $590 range resistance could take it higher by an additional $15, which is the same height as the short-term rectangle formation. On the other hand, a long bearish candle closing below $575 could take bitcoin price down by $15 as well.

Bitcoin Price Technical Analysis for 08/10/2016 - Stuck in a Range!

Market Events

The lack of market-moving catalysts compared to previous weeks has led to a lull in bitcoin price action. Central banks have announced monetary policy changes last week while the hack in a Hong Kong exchange has weighed heavily on bitcoin price. Soon after, traders booked profits off the sharp drop and are now waiting for more market clues.

A potential catalyst for price action could be the Reserve Bank of New Zealand’s policy decision since this might affect overall market sentiment and dollar trading, but this event is not expected to have a large direct impact on bitcoin price. For now, consolidation could continue for the cryptocurrency, allowing traders to just play the range support and resistance.

The US is set to print its retail sales report on Friday and might spur strong moves for the dollar, thereby dragging bitcoin price around. Downbeat data could mean losses for the US currency and therefore gains for bitcoin.

Chart 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

Bitcoin price news

The Bitcoin Liquidity Supercycle Has Just Begun, Says Hedge Fund CEO

Bitcoin punched through a fresh record above $122,000 on the morning of 14 July, extending its month-long rally to more...

Jake Simmons 3 hours ago
Bitcoin Price Attempts a Comeback

Bitcoin Price Hits $120K Milestone — Bulls Make History Again

Bitcoin price started a fresh increase above the $116,500 zone. BTC is now up over 2%, traded to a new...

Aayush Jindal 4 hours ago
Bitcoin price news

Bitcoin Price Crash Possible As Correction Sentiment Takes Hold — $110,000 Next?

After hitting a new all-time high of $121,400, the Bitcoin price has started consolidating once again, although the support continues...

Scott Matherson 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

Crypto expert: Bitcoin koers gaat snel exploderen naar $250.000

Bitcoin Price Breaks 8-Year Resistance Line That Failed In 2017-2021

Scott Matherson 26 minutes ago
미래의 암호화폐 가격을 예측하는 코인 선물 게임 출시

암호화폐 미래 가격 예측 ‘코인 선물 거래’ 주목…전 세계 이용자 급증

Soyeon Lee 54 minutes ago
Stellar

Stellar (XLM) Set To Explode? 92% Rally Sparks Bullish Frenzy—Details

Christian Encila 1 hour ago

Premium Sponsors

Press Releases

  • 3 altcoina koja vrijedi pratiti u drugom tjednu srpnja 2025.

    3 altcoina koja vrijedi pratiti u drugom tjednu srpnja...

    21 minutes ago
  • Mint

    Zak Manhire Launches Mint. io: A Web3 Gaming Platform...

    3 hours ago
  • アルトコイン急騰の今買うべき仮想通貨プレセール

    ...

    18 hours ago
  • 仮想通貨おすすめ|強気市場で爆発的成長が見込まれる注目のミームトークン

    ...

    18 hours ago
  • ...

    18 hours 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.