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 on Track to Form Historic “V-Reversal” as Bulls Surmount $7,000

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.

Bitcoin saw a sharp overnight rally that allowed it to surge past the resistance that it was previously facing around $7,000, with the crypto appearing to find some stability within this region – something that has not been seen since its capitulatory decline to $3,800 on March 12th.

Analysts are now noting that this latest movement does seem to confirm that BTC has formed a highly bullish “V-reversal” – a technical formation that could bolster bulls in the days and weeks ahead.

This also comes as Bitcoin enters a time period that is historically bullish, with one trader noting that it often sees upside in the time between April and May.

Bitcoin Posts Bullish Breakout Past $7,000 as Technical Strength Builds 

At the time of writing, Bitcoin is trading up just under 5% at its current price of $7,100, which marks a notable climb from daily lows of $6,600 that were set yesterday when the cryptocurrency was caught within an extended bout of sideways trading.

Previously, BTC had made multiple attempts to break above the $7,000 region, with each one resulting in firm rejections that subsequently led it lower.

If it is able to stabilize within this region, this could be a sign that bulls have some underlying strength and that the uptrend will extend further.

One popular trader on Twitter recently pointed out an interesting occurrence, noting that Bitcoin historically sees some positive price action throughout April and May, which could mean that it will rally higher in the days and weeks ahead.

“April-May periods ~90% of the time in recent years were bullish, which made me bullish the last days of March. This time will be different, especially after confirming 6-month long bullish divergence on weekly.”

Bitcoin BTC
Image Courtesy of CryptoBirb

BTC Forms Revered “V-Reversal” Pattern After Breaking Key Resistance

Today’s movement also bolstered the theory that Bitcoin’s recent rebound from the $3,000 region has formed a V-shaped bottom pattern, which is a charting signal that a trend reversal is imminent.

Mohit Sorout – a highly respected analyst – has been watching this rapidly forming pattern for the past week, noting in a tweet from today that BTC is about to close above its December lows and that “this is what strength looks like.”

“BTC on its way to close above Dec lows. This is what strength looks like.”

$BTC on its way to close above Dec lows.

This is what strength looks like. pic.twitter.com/w7IUrCeoYc

— MS📈 (@singhsoro) April 6, 2020

This tweet came about as a follow up to an analysis Sorout had posted on March 25th, in which he noted that the crypto is showing “serious signs of a V-reversal.”

The culmination of all these factors does paint a bullish picture, suggesting that the benchmark cryptocurrency may soon see further upside.

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

Dogecoin price news

The $1 Dogecoin Dream Is Alive: Chartist Lays Out Parabolic Scenario

The improbable $1 price target for Dogecoin has returned to the spotlight after independent crypto analyst Cantonese Cat (@cantonmeow) shared...

Jake Simmons 1 hour ago

L’ultimo Rally di Bitcoin è Sostenuto da un Potere d’Acquisto più Forte: Report

I dati del Bitcoin Stablecoin Supply Ratio suggeriscono che oggi gli investitori hanno un potere d’acquisto più forte rispetto al...

clararosati 2 hours ago
Dogecoin koers stijgt 9% na golden cross op uurgrafiek

Dogecoin koers stijgt 9% na golden cross op uurgrafiek

De Dogecoin koers maakte een sterke start in juli met flinke stijgingen. Dit volgde nadat een golden cross patroon te...

Lars Diederiksen 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

Solana

Solana Whale Moves $152 Million In One Splash—What’s Going On?

Christian Encila 20 minutes ago
$SNORT

ChatGPT napoveduje 10x rast žetona Snorter

tanjapotocnik 58 minutes ago
DOGECOIN

Dogecoin cena gre še višje, TOKEN6900 bo eksplodiral

tanjapotocnik 1 hour ago

Premium Sponsors

Press Releases

  • 仮想通貨おすすめ|米下院が大型法案可決、7月4日にビットコインが急騰

    ...

    14 minutes ago
  • ミームコイン急騰中|Solana発の人気銘柄続々高騰、新たな注目トークンも登場か?

    ...

    32 minutes ago
  • Dự Đoán Giá Fartcoin: Meme Coin Tiềm Năng FARTCOIN...

    4 hours ago
  • CertiK Validates FUNToken’s

    CertiK Validates FUNToken’s Smart Contract Strength With...

    4 hours ago
  • Explore Potential Coins

    Peter Thiel của PayPal Hậu Thuẫn Ngân Hàng Crypto...

    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.