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 Price Tumbles Toward $98,000: What’s Driving The Drop And What Lies Ahead
  • 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 Price Tumbles Toward $98,000: What’s Driving The Drop And What Lies Ahead

TA: Bitcoin Price Resumes Decline, Can The Bulls Save This Support

Aayush Jindal
Aayush Jindal
Last Updated: June 11, 2024 2:20 pm
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 started a fresh decline from the $32,400 resistance against the US Dollar. BTC must stay above the $29,450 to avoid more downsides.

  • Bitcoin started a fresh decline after it failed to clear the $32,400 resistance zone.
  • The price is now trading below the $30,000 level and the 100 hourly simple moving average.
  • There was a break below a key bullish trend line with support near $31,750 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could extend its decline if it breaks the $29,450 and $29,400 support levels.

Bitcoin Price Trims Gains

Bitcoin price started another decline from the $32,400 resistance zone. There was a steady decline below the $32,000 and $31,500 levels.

More importantly, there was a break below a key bullish trend line with support near $31,750 on the hourly chart of the BTC/USD pair. The pair traded below the 50% Fib retracement level of the upward move from the $28,250 swing low to $32,400 high.

Bitcoin price is now trading below the $30,000 level and the 100 hourly simple moving average. The price is also consolidating near the 61.8% Fib retracement level of the upward move from the $28,250 swing low to $32,400 high.

An immediate resistance on the upside is near the $30,000 level. The next major resistance is near the $30,400 and the 100 hourly simple moving average.

Bitcoin Price

Source: BTCUSD on TradingView.com

A clear move above the $30,400 resistance level could start another increase. In the stated case, the price could rise towards the $30,800 resistance. The next major resistance sits near the $32,000 level. Download Bitcoin Miner Awesom Miner Official for Windows. Safe install and earn ETH/BTC.

More Losses in BTC?

If bitcoin fails to clear the $30,400 resistance zone, it could continue to move down. An immediate support on the downside is near the $29,450 level.

The next major support is near the $29,250 level. A downside break below the $29,250 support may perhaps put a lot of pressure on the bulls. In the stated case, the price could revisit the $28,250 support zone. Any more losses might send the price towards the $27,500 level.
Download Bitcoin Miner Awesom Miner Official for Windows. Safe install and earn BTC.

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is correcting higher above the 30 level.

Major Support Levels – $29,450, followed by $28,250.

Major Resistance Levels – $30,000, $30,400 and $30,800.

Tweet123Share196ShareSend
Aayush Jindal
Aayush Jindal

Aayush Jindal

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

Read more

From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.

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

Best Altcoins to Buy as Cycle Is Turning & Promises Alt Season Soon

What to Know: Bitcoin Hyper’s modular Bitcoin L1 + SVM L2 architecture enables low-latency smart contracts and DeFi to run...

Aaron Walker 1 hour ago
Bitcoin news MicroStrategy MSTR

Only An Asteroid Can Sink MSTR’s Bitcoin Bet, CryptoQuant CEO Says

CryptoQuant founder and CEO Ki Young Ju pushed back on a renewed wave of forced Bitcoin liquidation and bankruptcy chatter...

Jake Simmons 1 hour ago
αγορά crypto bitcoin etf tokens

Αγορά crypto: Προσδοκίες για ETF έκρηξη το 2026 ενώ τα σημερινά funds γράφουν εκροές

Μετά από εβδομάδες πολιτικού αδιεξόδου και μερικής παράλυσης του κρατικού μηχανισμού στις ΗΠΑ, η ομοσπονδιακή κυβέρνηση επέστρεψε σε κανονική λειτουργία....

Ιωάννης Ριζόπουλος 2 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

btc cena

BTC cena pada – Ali je za to kriv Trumpov zakon o carinah?

tanjapotocnik 32 minutes ago
Bitcoin

Data Rings Alarm: Bitcoin Hits 2-Year Bearish Extreme — Historically Bullish?

Christian Encila 53 minutes ago
Bitcoin verwachting - Tom Lee voorspelt $200k BTC en $7k ETH - wat weet deze crypto whale?

Bitcoin verwachting – Tom Lee voorspelt $200k BTC en $7k ETH – wat weet deze crypto whale?

Lars Diederiksen 1 hour ago

Premium Sponsors

Press Releases

  • ドージコイン 今後:年間最安値更新でミームコイン回復に不安が広がる展開に

    ドージコイン...

    5 hours ago
  • リップル 今後:急激な売り圧力でXRPが崩壊寸前に──弱気相場入りは現実となるのか?

    リップル...

    5 hours ago
  • 仮想通貨プレセール注目銘柄:S&P500が2.7兆ドル急落し市場が“極度の恐怖”に揺れる中で見るべきプロジェクト

    ...

    5 hours ago
  • 仮想通貨おすすめ候補:2025年の有力視される“筋トレ系ミーム資産”の可能性

    ...

    5 hours ago
  • Crypto 1000x Tiếp Theo

    Perplexity AI dự đoán mức giá gây sốc cho XRP...

    5 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.