• Advertise
  • Submit a Press Release
  • About Us
NewsBTC

Bitcoin & cryptocurrency news

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
      • Casinos not on Gamstop
  • 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
  • CasinosTry
  • Play GamesTry
  • Play Casino GamesTry
  • Best Crypto CasinoTry
No Result
View All Result
Breaking News: Ethereum Price Cracks Above $2,000 As BlackRock Eyes ETH ETF
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
      • Casinos not on Gamstop
  • 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
  • CasinosTry
  • Play GamesTry
  • Play Casino GamesTry
  • Best Crypto CasinoTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: Ethereum Price Cracks Above $2,000 As BlackRock Eyes ETH ETF
bitcoin bull bear

Bitcoin Bulls And Bears Reach Standoff, BTC Consolidates Below $20K

Tony "The Bull" Severino by Tony "The Bull" Severino
3 years ago
in BTC
Reading Time: 2 mins read

Bitcoin volatility earlier in this week reached some of the most explosive price action in the asset’s history. In just a four hour window, the cryptocurrency rose and fell more than $1,000 each way, gyrating back and forth as buyers and sellers attempt equilibrium.

But after that powerful surge, indecision is showing through a reduction in volatility, and a tightening trading range. Bulls and bears are both in a standoff at this point, and either a drop is near, or $19,500 will finally give in as resistance. Here’s a look at how close the crypto asset is coming to a break in one direction or the other.

Bitcoin Price Action Pauses Under $20K, Bearish Or Bullish Consolidation?

Bitcoin price action has been more explosive than ever, resulting in the leading cryptocurrency by market cap setting a new all-time high price record.

But after setting the new high, FOMO didn’t push price past $20,000 resistance. What the crypto community calls “OG whales” who bought BTC in the early days are selling, offsetting the enormous momentum from new retail money and institutional traders.

It has led to an impasse or standoff like situation between bears and bulls over the last 24 hours.

bitcoin bulls bears bollinger bands

The Bollinger Bands are contracting and gearing up for a big squeeze | Source: BTCUSD on TradingView.com

The chart above shows the declining volatility since the last large move, indicated by the Bollinger Bands contracting to a “squeeze.” As previous examples show, when the indicator coils, energy is released in either direction.

Related Reading | The Dollar Losing A Decade Long Trendline Could Send Bitcoin Skyrocketing

But which direction isn’t as clear. A low-timeframe symmetrical triangle could be forming, which doesn’t do much to help point to one path or another.

bitcoin bulls bears ta

A symmetrical triangle could provide the climax to the consolidation below all-time high | Source: BTCUSD on TradingView.com

What is clear, is that a strong enough break above $19,475, or a fall below $18,875, could trigger the decision-making move.

For those considering trading this madness, beware of false breakouts in either direction and look for additional confirmations such as high volume.

Related Reading | Ten Different Bearish Divergences Stack Against Bitcoin, But Drop Has Yet To Arrive

It is worth noting that consolidation below resistance is often bullish, and a sign that the asset is ready to break through it.

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

Tony "The Bull" Severino

Tony "The Bull" Severino is a level 3 CMT student (passed level 1 & 2), technical analyst, and the Head of Research at NewsBTC. Tony is also the Founder of CoinChartist.io – a technical analysis educational resource designed for crypto traders. Tony is a partner of Elliott Wave International, TradingView, and a member of the CMT Association.

Related Posts

Bitcoin

Bitcoin Price Sprint to $40,000 – Can It Happen Soon Before EOY?

3 days ago
Bitcoin

Bitcoin Price Consolidates – Why 100 SMA Could Spark Fresh Increase

4 days ago
Bitcoin

Bitcoin Price Avoids Collapse But Can Bulls Clear This Major Hurdle?

5 days ago
Bitcoin

Bitcoin Price Grinds Lower As Risk of Drop To $35K Escalates

6 days ago
Bitcoin

Bitcoin Price Faces Rejection and Now At Risk of Downside Extension

7 days ago
Bitcoin

Bitcoin Price Key Indicators Suggest Strong Case For Another Rally

1 week ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit
Inmerion

Inmerion

Review · Visit

Press Releases

  • Explosive Growth for Cardano Expected by 2024; Whales Flock...

    8 hours ago
  • XRP Eyes Dethroning BNB From the 4th Position...

    9 hours ago
  • Coin Watch: $BTC’s Upside Target $40K, Downside...

    10 hours ago
  • As Bitcoin Rebounds, Here Are the Best Cryptos to Add to...

    1 day ago
  • Bitcoin’s $37K Stability Linked to High Accumulation...

    1 day 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
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
      • Casinos not on Gamstop
  • 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
  • Casinos
  • Play Games
  • Play Casino Games
  • Best Crypto Casino

© 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.