• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • 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
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
  • Home
  • 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
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
Bitcoin
Nexo Logo

Bitcoin Topside Bias Could Be Vulnerable Below $9,500 And 100 SMA

Aayush Jindal by Aayush Jindal
2 years ago
in Bitcoin, Technical analysis
Reading Time: 2 mins read
Advertisement

Bitcoin failed to climb above the $9,950 and $10,000 resistance levels against the US Dollar. BTC price is currently plunging and it is now vulnerable to more losses below $9,400.

  • Bitcoin is down more than 3% from the weekly high and it is now showing bearish signs.
  • The price is trading well below the $9,600 level and the 100 hourly simple moving average.
  • There was a break below a major contracting triangle with support near $9,600 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair remains at a risk of more losses below the $9,400 and $9,250 levels.

Bitcoin Showing Bearish Signs

Bitcoin price started a bearish wave after it failed to continue above the $9,950 and $10,000 resistance levels against the US Dollar. BTC price is down more than 3% from the weekly high and it broke the $9,540 support zone.

The recent decline was such that the price even broke the $9,400 level and settled below the 100 hourly simple moving average. More importantly, there was a break below a major contracting triangle with support near $9,600 on the hourly chart of the BTC/USD pair.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!
Bitcoin Price
Bitcoin Price

A low is formed near $9,308 and bitcoin price is currently correcting higher. It tested the 50% Fib retracement level of the recent decline from the $9,843 high to $9,309 low.

It seems like the previous supports near $9,540 and $9,600 are now acting as hurdles. The first major hurdles is near the $9,640 level and the 100 hourly simple moving average. The 61.8% Fib retracement level of the recent decline from the $9,843 high to $9,309 low is also at $9,639.

To avoid more losses, BTC price must move back above the $9,540 and $9,640 resistance levels. The next key hurdles on the upside remain $9,950 and $10,000.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

More Losses?

If bitcoin fails to recover above the $9,540 and $9,640 resistance levels, there are chances of more losses in the near term. An immediate support is near the $9,400 level.

The main support is near the $9,250 zone (the last key pivot zone). If the bulls fail to defend the $9,250 support level, the price could continue to move down towards the $9,120 and $9,000 levels in the near term.

Technical indicators:

Hourly MACD – The MACD is slowly reducing its bearish slope, but there are many negative signs visible.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is sliding and it is well below the 50 level.

Major Support Levels – $9,400 followed by $9,250.

Major Resistance Levels – $9,640, $9,800 and $9,950.

Tags: bitcoinbtcusdBTCUSDTxbtusd
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

TA: Bitcoin Reclaims $30K, Why Bulls Face Uphill Task

1 hour ago
El Salvador bitcoin

More Stress For El Salvador As Bitcoin Dips To $29,000

5 hours ago
Bitcoin Selling Pressure Continues As Long-Term Holder SOPR Spikes Up

Bitcoin Selling Pressure Continues As Long-Term Holder SOPR Spikes Up

9 hours ago
Bitcoin and Ethereum

Exchange Inflows Rock Bitcoin, Ethereum As Market Struggles To Recover

11 hours ago
Time For Autopsy? Bitcoin May Plunge Further After Dive Below $30k

Time For Autopsy? Bitcoin May Plunge Further After Dive Below $30k

15 hours ago
Bitcoin

TA: Bitcoin Trims Gains, Why BTC Could Start Fresh Decline

1 day ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Wildcoins Casino

Wildcoins Casino

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Can Gnox (GNOX) become a crypto giant like Cardano (ADA)?

May 19, 2022

Terra (LUNA) and Binance (BNB) Experienced a Terrible Week While Presale Crypto Chronoly (CRNO) Is Flying High

May 19, 2022

3 Years, 6 Lamborghinis: FreeBitco.in’s “Biggest Giveaway in Crypto” Continues Its Legacy

May 19, 2022

SFUND To Be Listed On The Leading Global Crypto Exchange Huobi Global

May 19, 2022

Diversify your crypto portfolio with Pac-Man Frog (PAC), Monero (XMR), and Aave (AAVE)

May 19, 2022

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.

COMPANY

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

Technical Analysis

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

LINKS

Crypto Prices from Nomics

Cryptocurrency news

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

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • 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
  • Play Games
  • Bet & Win
  • Spin & Win

© 2021 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.