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

Bitcoin Defies Correction Calls, Where Will BTC Go Next?

Martin Young
Martin Young
6 years ago
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’s epic weekend pump has continued into Monday as gains are holding. BTC is still above $9k but has hit resistance once again. Analysts and traders are looking for its next move and some are now eyeing altcoins for bigger gains.

Bitcoin surged through resistance yesterday to record a new 13 month high of just north of $9,300. The move resulted in 8 percent on the day for BTC has it pumped from around $8,600 to its highest price of 2019. A small pullback occurred but it retested this price a few hours later forming a double top on the day.

A larger pullback then took Bitcoin back down to $8,850 but it has since recovered again and is heading upwards during the morning’s Asian trading session. At the time of writing BTC was trading at $9,100, marginally higher than yesterday morning.

Daily volume has also pumped back up to $23 billion taking Bitcoin’s market capitalization to $162 billion, higher than that of the total crypto market back in March. Bitcoin market cap has not been this high since May 2018.

What is Next For Bitcoin?

Traders and analysts have been looking at the Ichimoku Cloud, which is a collection of technical indicators that show support and resistance levels, as well as momentum and trend direction. The weekly candle has opened inside the cloud which is bullish and could result in further upwards momentum;

“$BTC – found resistance right at the lower cloud and has opened the weekly candle inside the cloud. This represents the highest time frame that #bitcoin has breached into the cloud…with resistance at just above $10K…”

$BTC – found resistance right at the lower cloud and has opened the weekly candle inside the cloud. This represents the highest time frame that #bitcoin has breached into the cloud…with resistance at just above $10K… pic.twitter.com/UVDSMsa0bF

— BIG Chonis (@BigChonis) June 17, 2019

Looking at next moves for BTC, the analyst added;

“one more step up the mountain as #bitcoin hits right at the 38.2% fib resistance making it the next target for the bulls to close over and also makes maintaining the 23.6 fib support that much more important for overall continuation…”

The 38.2% Fib level is pretty much were BTC reached during May last year when it started to fall from over $9k so this does form a natural resistance level. It is an obvious take profit zone so could well be tested again with a bounce to the low side.

Current chart patterns are mirroring those from previous market cycles which could also give indication as to where Bitcoin will go next. Trader ‘CryptoHamster’ pulled out a chart from the 2013 bull run which shows similarities with what is occurring now;

When you try to find similarities between the current price action of #bitcoin and what happened in history…
(Don't really think that it will play out, but if it will, short-term bears will be super-happy, i guess.)$BTC $BTCUSD pic.twitter.com/ngeFtXhns4

— CryptoHamster (@CryptoHamsterIO) June 17, 2019

Many have been waiting for a correction back to $6k but this is looking more distant as the days go by and Bitcoin continues to make new 2019 highs. A big 30 percent plus dump from current levels will drop BTC back to $6,400 which, coincidentally, was the most traded price in 2018. But as we have seen, BTC has done the opposite several times this year, as predicted late last week the consolidation cracked with Bitcoin’s latest move.

Image from Shutterstock
Tweet123Share196ShareSend
Martin Young
Martin Young

Martin Young

Martin is a Southeast Asia based info-tech, cyber security, and cryptocurrency analyst with 20 years working in web technology and media.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

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

bitunix platforma s tradingview

Bitunix zavádí nástroje TradingView do své mobilní aplikace, co vše nabídne?

Burza Bitunix, která se rychle vyprofilovala jako inovátor v oblasti krypto derivátů, podnikla další strategický krok směrem k modernizaci uživatelského...

Lenka Hanzlíková 3 hours ago

Bitcoin resiste alla forte pressione di vendita su Binance Derivatives – breakout in arrivo?

Bitcoin (BTC) è rimasto bloccato in un range tra 100.000$ e 110.000$ dal 7 maggio, con alcune brevi discese fino...

clararosati 4 hours ago
Ethereum Price Action Signals Momentum Shift: BTC Sleeps And ETH Moves

Ethereum Price Action Signals Momentum Shift: BTC Sleeps And ETH Moves

Ethereum has finally pushed above the critical $2,600 level after weeks of range-bound trading, marking a potential turning point in...

Sebastian Villafuerte 5 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

Dogecoin

Is Dogecoin Prepping For Takeoff? Fib Reaction And Trend Support Say Yes

Godspower Owie 1 hour ago
Bitcoin Hyper $HYPER presale meme coin

Bitcoin Hyper je dosegel mejnik 2 milijona dolarjev

tanjapotocnik 2 hours ago
Elon Musk

Elon Musk Drops Epstein ‘Peanut’ Bomb — PNUT Coin Explodes 10%

Christian Encila 2 hours ago

Premium Sponsors

Press Releases

  • 仮想通貨プレセール|次世代ビットコイン拡張プロジェクトが200万ドル目前、投資家が続々と参加中

    ...

    3 hours ago
  • 仮想通貨おすすめ|ビットコインが過去最高値に迫る中、ETFが70万トークンを保有

    ...

    3 hours ago
  • 新しい仮想通貨が160万ドルを調達──過剰な宣伝を避ける注目のミーム系ボット登場

    ...

    4 hours ago
  • 仮想通貨おすすめ|ビットコインが10万8,000ドル突破、2025年7月に注目の17銘柄

    ...

    4 hours ago
  • MEXC Launchpad Debuts PUMP Token with Exclusive 40%...

    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.