• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • 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
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
Breaking News: Binance Sees $218 Million In Outflows Following CFTC Lawsuit
  • 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
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Binance Sees $218 Million In Outflows Following CFTC Lawsuit

Lower Lows and Lower Highs Continue in the Bitcoin Price

Samuel Rae by Samuel Rae
8 years ago
in Technical analysis
Reading Time: 2 mins read
Advertisement

Yesterday afternoon shortly before the close of the European session, we published our twice-daily technical analysis piece in the bitcoin price. The piece highlighted a couple of key levels we will be watching as we head into the start of US afternoon, and suggested how we might interpret price reaching these levels as far as forming an overnight bias is concerned. Now action overnight has matured, what are the levels we’re looking at on Wednesday, and how can we take a position on any potential volatility? Take a quick look at the chart.bitcoin price

As the chart shows, overnight action – while choppy – has been decidedly bearish in the bitcoin price. We have repeatedly made lower highs and lower lows, suggesting an overarching downside trend. We now trade between what serves as in term support at 250.13 and resistance at 254.56 medium-term. These are the two levels we will be watching in order to form our intraday bias.

If the overarching trend continues, we will likely see 252.1 feet before we hit in term resistance. If we can break below this level, it would validate an initial downside target of 250 flat, with a stop loss just ahead of 252.50 ensuring we are taken out of the trade for just a small loss in the event of a bias reversal.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

Looking the other way, if current levels hold, and we see a medium-term trend reversal, we will look for a break above 254.56 to validate 256.06 medium-term. In this scenario, a stop loss somewhere around 254 flat would present us with a nice risk reward profile in the event of anything unexpected. One thing worth noting, for those looking slightly longer-term, is that we are approaching key long-term support around 251 flat. This means we could see some friction before a downside target is hit, and also could hint at a medium-term reversal of the BTCUSD in the coming few days.

Charts courtesy of Trading View

 

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Tags: bitcoin priceBitcoin price chartbitcoin price volatilitybitcoin valuebtc to usdchart analysiscryptocurrencynewsNewsnewsbtc analysis
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Samuel Rae

Samuel Rae

Related Posts

Polkadot (DOT)

DOT Price (Polkadot) Prediction: Bulls Aim Fresh Surge To $7

2 hours ago
Ethereum Price

Ethereum Price Breaking This Confluence Resistance Could Spark Rally

3 hours ago
Bitcoin

Bitcoin Price Indicators Show Vulnerability to Another Downside Correction

4 hours ago
Ripple

XRP Price Prediction: Ripple Bulls Are Not Done Yet And Still Aim $0.5

1 day ago
Ethereum

Ethereum Price is Struggling, But It’s Too Early to Say Bulls Have Given Up

1 day ago
Bitcoin

Bitcoin Price Revisits Key Support, Can Bulls Save The Day?

1 day ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Orbeon Protocol (ORBN), Bitcoin (BTC), and Monero (XMR) Gain During bank Runs

March 29, 2023

Which Crypto Will Shine in 2023? Stellar (XLM), Cronos (CRO) or Collateral Network (COLT)

March 29, 2023

Collateral Network (COLT) Introduces Asset-Backed Lending, Crypto.com (CRO) Gets Dubai License, While Bank Runs Trigger Bitcoin (BTC) Pump

March 29, 2023

Investors Pass Positive Verdict On Orbeon Protocol (ORBN) As Dash (DASH) and Litecoin (LTC) Disappoint

March 29, 2023

Decentraland and The Sandbox Dominating GameFi Industry – Will Avorak AI Live Up To The AI Crypto Hype?

March 28, 2023

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.

Links

Crypto Prices from Nomics

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

© 2022 NewsBTC. All Rights Reserved.

  • 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
  • Events
  • Play Games
  • Play Casino Games
  • Free Spins
  • Play Finance

© 2022 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.