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

Bears Flip $17,000 As Resistance, Bitcoin Struggles To Hold Support

Tony "The Bull" Severino
Tony "The Bull" Severino
4 years ago
2 mins read
bitcoin price bulls

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 is now trading at nearly $3,000 less than the high set earlier in the week, just shy of setting a new all-time record for the cryptocurrency.

After a few strong attempts by bulls to get back above $17,000, bears might have flipped the zone into strong resistance, and are now making a stand to break what’s left of support.

Bitcoin Bulls And Bull Go To War At $17,000

Bitcoin price is reeling after a rejection at the retest of its all-time high. At only a few hundred dollars below the previous peak – if that, depending on the exchange – the leading cryptocurrency by market cap suffered a large, 15% correction.

A $3,000 fall to support has thus far held, but bears might have successfully flipped $17,000 into resistance on lower timeframes.

bitcoin btcusd sr flip

The four-hour chart shows a critical retest of $17,000, which bulls failed to reclaim | Source: BTCUSD on TradingView.com

Zooming out, Bitcoin bulls are still holding onto weekly support set back in early January 2018 and are keeping their heads above water for the time being. If bears continue to push cryptocurrency prices lower, however, things could get a lot worse.

bitcoin btcusd sr flip weekly

Bitcoin is trying to hold above daily support from 2018 | Source: BTCUSD on TradingView.com

Statistically, when a specific technical indicator reaches such an extreme reading, as much as two-thirds can come off the price of the top crypto asset in the correction that follows.

Related Reading | Bitcoin Indicator Reaches Historical Extreme: Price Sheds Two Thirds Upon Reversal

But after such a severe crash, the recovery is just as incredible. All instances where this extreme deviation happened, immediately bounced to new all-time highs the moment that Bitcoin bulls regained control.

While that might not come for some time, given how easy bulls have had it for the last several weeks in a row, the bull market is here and there won’t be much that can stop Bitcoin.

Featured image from Deposit Photos, Charts from TradingView.com
Tweet123Share196ShareSend
Tony "The Bull" Severino
Tony "The Bull" Severino

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Read more

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

Close

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 koers beweegt steeds vaker mee met aandelen - blijvend of tijdelijke trend?

Bitcoin koers beweegt steeds vaker mee met aandelen – blijvend of tijdelijke trend?

Het valt crypto analisten de laatste tijd steeds meer op dat de Bitcoin koers opvallende bewegingen maakt die samenhangen met...

Lars Diederiksen 2 hours ago
Ethereum

Ethereum Whales Feast While Retail Flees—ETH Ocean Just Got Hungrier

In the past month, big Ethereum wallets have been quietly piling on more Ether while small investors pull their profits....

Christian Encila 2 hours ago
Dogecoin price news

$8 Dogecoin? Analyst Says You’ll Regret Sleeping On This Chart

Cantonese Cat’s first livestream in weeks, broadcast on 15 June, devoted an extended segment to Dogecoin’s long-term structure—and the veteran...

Jake Simmons 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

Ripple nieuws: Volgt een reversal voor de XRP koers na 1,76% stijging?

Ripple nieuws: Volgt een reversal voor de XRP koers na 1,76% stijging?

Lars Diederiksen 16 minutes ago

DOGE Scivola – I Rialzi Rafforzano la Presa sulla Regina delle Meme Coin

Antonio Carretta 37 minutes ago
bitcoin and war israel iran

Πτώση του Bitcoin καθώς το Ισραήλ εξαπολύει αεροπορικές επιθέσεις στο Ιράν

tsvetoslavad 1 hour ago

Premium Sponsors

Top Brands

Press Releases

  • ETHRANSACTION Cloud Mining Platform: Opening a new era of...

    3 hours ago
  • MEXC Unveils “Proof of Trust” Campaign for...

    3 hours ago
  • Meme coin tiềm năng

    Meme coin tiềm năng 2025: 4 dự án nổi bật nên...

    3 hours ago
  • Solaxy Coming to Ethereum with Hyperlane, Soon to Reach $48M in Presale

    Presale Solaxy bùng nổ: Cá voi gom 495K USD, cơ hội...

    3 hours ago
  • Best altcoins

    Những Alt coin Tiềm Năng Nên Mua Cho Đợt Bull Run...

    4 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.