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: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30
  • 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: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30

Bitcoin Price Technical Analysis for 09/05/2017

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 recently broke below the short-term rising channel bottom, signaling a pickup in bearish pressure.
  • This could pave the way for a larger correction to the Fibonacci retracement levels on the daily chart.
  • Technical indicators are suggesting that the longer-term rally could still resume at some point.

Bitcoin price made a sharp downside break of nearby support but still has plenty of potential floors to bounce from.

Technical Indicators Signals

The 100 SMA is above the longer-term 200 SMA so the path of least resistance is to the upside, which means that the rally is more likely to resume than to reverse. The short-term moving average is close to the 61.8% Fibonacci retracement level around $3000, which is also in line with an area of interest or former resistance area.

A shallow pullback could find support at the 38.2% Fib or $3850 or the 50% Fib at $3460. A larger correction could last until the 200 SMA at $2000, but a break below this area could confirm that longer-term losses are in the cards.

Stochastic is heading south so bitcoin price might follow suit, but this oscillator is nearing oversold levels to indicate exhaustion among sellers. RSI is also on the move down to reflect the presence of bearish pressure and has room to go before hitting oversold levels.

Market Factors

A new ruling from Chinese regulators weighed heavily on bitcoin price even as the cryptocurrency has drawn investor support from rising geopolitical risks. Earlier this year, bitcoin traders have already been on edge about potential regulation from China as this could dampen activity in one of the largest cryptocurrency markets.

There were reports indicating that China banned ICO financing, which it clarified to be “activity of an entity raising virtual currencies, such as bitcoin or ethereum, through illegally selling and distributing tokens.” 

Furthermore, the notice from the People’s Bank of China, the Central Network Office, the Ministry of Industry and Information Technology, the State Administration for Industry and Commerce, the China Banking Regulatory Commission stated that “persons or organizations who have completed ICOs shall refund the investors, protect the investors’ rights, and deal with the risks properly.”

Tweet123Share196ShareSend
newsbtc
newsbtc

newsbtc

Comments 3

  1. Jorge Fernando Soto Villamizar says:
    8 years ago

    When buy???

    Reply
  2. Igor Fonseca says:
    8 years ago

    In SMA, what means the period? 1 hour, 1 day, 1 month?

    Reply
  3. Haliff Roslan says:
    8 years ago

    there is massive amount of buy order just above usd3000

    Reply

Leave a Reply Cancel reply

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

Comments 3

  1. Jorge Fernando Soto Villamizar says:
    8 years ago

    When buy???

    Reply
  2. Igor Fonseca says:
    8 years ago

    In SMA, what means the period? 1 hour, 1 day, 1 month?

    Reply
  3. Haliff Roslan says:
    8 years ago

    there is massive amount of buy order just above usd3000

    Reply

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

XRP Price Declines Further

XRP Price Declines Further – Is a Bigger Crash on the Horizon?

XRP price is struggling to recover above the $3.00 resistance zone. The price is now declining and might extend losses...

Aayush Jindal 3 hours ago
xrp-breakout-trigger-100x-altcoin-launch-tw

XRP價格臨界爆升技術測試點 這個百倍山寨幣是否已經開始啟動?

XRP正處於技術面與基本面雙重壓力下,短期內價格走勢陷入下行通道。當前報價為2.81美元,24小時交易量達70億美元,市值排名第四,約為1668.9億美元。在連續無法有效站穩3.00美元之上後,市場懷...

markh 4 hours ago
Ethereum Recent Gains in Danger

Ethereum Recent Gains in Danger – Could We See Another Drop?

Ethereum price started a fresh decline below the $4,650 zone. ETH is now showing bearish signs and might gain bearish...

Aayush Jindal 4 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

Ethereum news

Ethereum Will ‘Likely 100x From Here,’ Says Joe Lubin

Jake Simmons 21 minutes ago
Bitcoin price crash

Pundit Calls Bitcoin Price Crash Below $93,000, Reveals Bear Targets From Here

Scott Matherson 1 hour ago
Cardano (ADA) Faces Selling Pressure

Cardano (ADA) Faces Selling Pressure – Is This the Start of a Trend?

Aayush Jindal 2 hours ago

Premium Sponsors

Press Releases

  • Mova Gala: Mainnet Activation — Ushering in a New Era of...

    6 hours ago
  • Token6900FTRD

    仮想通貨 1000倍...

    10 hours ago
  • HyperFTRD

    Bitcoin Hyper Presaleが1300万ドル突破 – ico...

    10 hours ago
  • MARAのAI参入と6BドルのBTC保有が示す次の波 – Bitcoin Hyperとミームコイン市場の可能性

    仮想通貨...

    10 hours ago
  • ミームコインと2025年最高の仮想通貨プレセール:BlockchainFXが620万ドル調達、TOKEN6900やMaxi Dogeを圧倒

    ...

    10 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.