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 Exchange Gemini Makes A Splash On Nasdaq Debut, Jumping Nearly 50%
  • 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 Exchange Gemini Makes A Splash On Nasdaq Debut, Jumping Nearly 50%

Bitcoin Price Technical Analysis for 07/20/2016 – Steady Uptrend

newsbtc
newsbtc
1 year 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 Price Key Highlights

  • Bitcoin price went for a test of the channel support as predicted in an earlier article and a bounce took place.
  • This signals that price could be headed back to the channel resistance to carry on with its uptrend.
  • A fresh round of risk aversion could keep bitcoin in demand but technical indicators are giving mixed signals.

Bitcoin price found support at the bottom of its ascending channel and looks prime for another test of resistance.

Technical Indicators Signals

The 100 SMA is above the 200 SMA so the path of least resistance is to the upside. This suggests that bitcoin price might climb to the top of the channel at $690-700 or at least until the previous highs closer to $680. In addition, the 100 SMA coincides with the bottom of the channel, adding to its strength as a floor.

However, stochastic is already in the overbought area, which means that buyers could run out of steam soon. The oscillator hasn’t crossed down to indicate a return in selling pressure yet so a few more gains could be possible.

If a break below the channel support at $670 is seen, bitcoin price could still bounce off the 200 SMA dynamic inflection point at $665. A candle closing below this level could lead to a drop to the next area of interest at $650.

Bitcoin Price Technical Analysis for 07/20/2016 - Steady Uptrend

Market Events

The IMF downgraded global growth forecasts in yesterday’s update, bringing fresh risk-off vibes in the financial markets. The institution highlighted the potential risks that the Brexit could bring on the UK and the rest of the developed nations.

Event risks for the rest of the week include the unscheduled announcement of the Reserve Bank of New Zealand and the European Central Bank’s monetary policy decision on Thursday. Dovish remarks could keep risk aversion in play, reviving demand for alternative assets like bitcoin.

For now, there seems to be no signs of unease among Chinese investors as data from the world’s second largest economy beat expectations last week and the IMF even upgraded GDP estimates for China yesterday. Still, any kind of easing or intervention from their government could spur another boost in bitcoin price again.

Charts from SimpleFX

Tweet123Share196ShareSend
newsbtc
newsbtc

newsbtc

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

bitcoin price btc btcusd 1

Bitcoin Climbs Past $115,000 on Inflation Relief and ETF Flows, But Bearish Signals Loom

Bitcoin (BTC) has extended, surging to a three-week high of $115,500, fueled by softer U.S. inflation data and steady inflows...

James Halver 11 hours ago
Solana

Analyst Sets Bold $1,314 Target For Solana After Cup-And-Handle Breakout

A cryptocurrency analyst has pointed out how Solana may be moving toward a sky-high main target based on a cup-and-handle...

Keshav Verma 12 hours ago
bitcoin

Bitcoin Breaks Above Mid-Term Holder Breakeven – Is A Fresh Rally Brewing?

Bitcoin (BTC) has surged from around $108,000 on September 1 to above $115,000 at the time of writing – recording...

Ash Tiwari 13 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

Aave price

AAVE Price Reclaims $320 As TVL Metric Shows Positive Divergence — What’s Next?

Opeyemi Sule 3 hours ago
Dogecoin

Dogecoin In Buy Zone: Bulls Eye $0.34 As Immediate Target

Semilore Faleti 5 hours ago
Solana, Monero, SUI, pump.fun, chainlink

Solana Eyes Massive Breakout Amid $240 Retest, But Analyst Issues Crucial Market Warning

Rubmar Garcia 10 hours ago

Premium Sponsors

Press Releases

  • ドージコイン 今後の展望:ビットコイン提携とETF開始で次の暗号資産の巨人となるか

    ドージコイン...

    6 hours ago
  • 鯨が一晩で4,000万XRPを売却、リップル 今後は3ドルのサポートを維持できるか

    鯨が一晩で4,000万XRPを売却、リップル...

    7 hours ago
  • 暗号資産トレジャリーの苦境とQ4に狙う仮想通貨プレセール

    ...

    7 hours ago
  • 10月に上昇が期待される仮想通貨おすすめ6選

    ...

    7 hours ago
  • 新しい仮想通貨が投資家を最速で億万長者に導く ― 既存の「買うべき仮想通貨」を超えて

    ...

    8 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.