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: SOL Strategies: The First Solana Treasury Company Listed On Nasdaq
  • 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: SOL Strategies: The First Solana Treasury Company Listed On Nasdaq

Bitcoin is About to Tap a Trendline that Could Send the Crypto Market on an Explosive Rally

Cole Petersen
Cole Petersen
1 year ago
2 mins read
Bitcoin BTC

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.

The crypto market has been caught within an intense bout of volatility over the past several days and weeks, which has been led by Bitcoin’s capitulatory decline from recent highs of $10,500 to lows of $7,700 that were set today.

This intense downtrend has led Bitcoin to a critical macro support level that could provide investors with an ideal buying opportunity.

Multiple major altcoins have also approached key support levels over the past several days, with a continued defense of these levels potentially opening the gates for significant near-term rallies in the days and weeks ahead.

Crypto Market Faces Widespread Selloff as Analysts Watch for Short-Term Upside 

At the time of writing, Bitcoin is trading down over 5% at its current price of $7,850, which marks a slight bounce from daily lows of $7,700.

The intense downtrend that Bitcoin has been caught within over the past several days and weeks has led the aggregated crypto market to similarly see some intense losses, with Ethereum, XRP, and most other major altcoins erasing the bulk of their 2020 gains.

In spite of the overt bearishness of the price action seen throughout the past few days, it is important to note that the aggregated crypto market may soon see a notable short-term rebound.

The Cryptomist, a popular cryptocurrency analyst on Twitter, explained in a recent tweet that she believes both Ethereum and Litecoin may see some upside if they are able to hold above their key support levels at $195 and $48 respectively.

“Both ETH and LTC have few hours to hold on to their bullish pattern support lines. ETH must hold above $195. ETH must hold above $48,” she explained.

These cryptos are both currently positioned to close their daily candles above these levels, which could mean that they will climb higher in the days and weeks ahead.

Bitcoin Could Spark a Massive Market-Wide Rally If It Bounces at This Key Level 

Crypto Bullet – another popular cryptocurrency analyst on Twitter – explained in a tweet that BTC is currently approaching a key macro trendline that has historically sparked explosive upwards movements.

“BTC 1M log scale update. Let’s once again take a look at our beloved log scale chart. As long we are closing the monthly above the trend line this is just another great buying opportunity. Zoom out and look at the big picture,” he explained.

$BTC 1M log scale update 📉

Let's once again take a look at our beloved log scale chart.

As long we are closing the monthly above the trend line this is just another great buying opportunity.

Zoom out and look at the big picture!#bitcoin #trading pic.twitter.com/Rx7v6X7ZzV

— crypto bullet 📈 (@SilverBulletBTC) March 9, 2020

If Bitcoin posts a highly bullish response to this level as it has done in the past, it is highly probable that the aggregated crypto market will also incur some intense upwards momentum in the weeks ahead.

Featured image from Shutterstock.
Tweet123Share196ShareSend
Cole Petersen
Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

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

Ethereum Outflows Drive Binance Supply Ratio Under 0.037, Signaling Bullish Setup

After hitting its latest all-time high of $4,956 on August 23 on Binance, Ethereum (ETH) has been trading in a...

Ash Tiwari 2 hours ago
WLFI

Expert Predicts WLFI Going To $0 Without Sun’s Support, Panic Selling Looms

The launch of the World Liberty Financial platform’s native token, WLFI, was anticipated as a significant event in the cryptocurrency...

Ronaldo Marquez 4 hours ago
MemeCore

MemeCore Explodes 3,800% For ATH — But Is A Collapse Around The Corner?

MemeCore’s native token M has raced from near-zero to headline-making highs in a matter of weeks, drawing both excitement and...

Christian Encila 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

Bitcoin

Old Bitcoin Supply Keeps Moving Into ETFs: Data Shows Three Waves So far

Keshav Verma 37 minutes ago
Crypto trading markt update: volatiliteit blijft hoog, groeien de zorgen?

Crypto trading markt update: volatiliteit blijft hoog, groeien de zorgen?

Lars Diederiksen 1 hour ago
Bitcoin

Bitcoin Bull Run Nears Its Climax: Cycle Peak Indicates 95% Completion

Ronaldo Marquez 1 hour ago

Premium Sponsors

Press Releases

  • 50万ドル調達の新興プロジェクトが次の大型ミームコイン候補に浮上

    ...

    8 hours ago
  • イーサリアム売却後に注目される次のアルトコイン投資先4選

    ...

    8 hours ago
  • アルトシーズン前に投資候補となる仮想通貨プレセールの紹介

    ...

    9 hours ago
  • 仮想通貨おすすめ:市場回復期に注目すべき銘柄リスト

    ...

    9 hours ago
  • 今日注目すべき1ドル未満の新しい仮想通貨 ― 9月6日版

    今日注目すべき1ドル未満の新しい仮想通貨...

    9 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.