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 Price Technical Analysis for 10/2/2015 – Code: $220

newsbtc
newsbtc
1 year ago
2 mins read

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 fell slightly below the $220 support level to score a low of $214 before rising up again to $221.71 at the time of my writing of this article. Bitcoin price overshot below the $220 support level; yet, it rapidly corrected itself to rise above $220 during later trading sessions.
By looking through the 1 hour (BTC/USD) Bitfinex charts from tradingview.com (look at the below chart), we can notice how the price dropped to $214 yet the downtrend was reversed a few hours later and pushed the price above the $220 support level. As shown on the below chart, we can see how bitcoin price overshot below the $220 support level, before rising up again above $220 three times during the past 5 days. This signifies the strength of support at the $220 level and further endorses the fact that we are not likely to see bitcoin price drop below $220 during the upcoming few days, especially considering that bitcoin is now trading above its 10 day EMA. Today’s price drop could be attributed to the Mycoin crisis news reaching more mainstream news sources and wider news audiences.

bitcoin analysis, bitcoin technical analysis
By studying the 1 day Bitfinex (BTC/USD) charts from tradingview.com and plotting the On-Balance Volume (OBV) oscillator accordingly (look at the below chart), we can notice that the OBV curve has just started to slope in an upward direction today, which points to an increase in the market’s buying pressure. A volume increase always precedes a rise in price, so an upwards sloping OBV signals an upcoming rise in bitcoin price.

bitcoin analysis

Conclusion:

Bitcoin price overshot below $220 before rapidly correcting back above this seemingly rock solid support level. Long trade positions can be confidently executed at an entry price of $220 with a take profit around $256.

Charts from Bitfinex

Tweet123Share196ShareSend
newsbtc
newsbtc

newsbtc

Comments 1

  1. Scott Cohen says:
    11 years ago

    Is the continuous push between 219 and 221 just a final bear rally before price increase?

    Reply

Leave a Reply Cancel reply

Your email address will not be published.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

Comments 1

  1. Scott Cohen says:
    11 years ago

    Is the continuous push between 219 and 221 just a final bear rally before price increase?

    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

Bitcoin

Bitcoin STH-SOPR Metric Reclaims Critical Level — More Pain For Short-Term Holders?

The price of Bitcoin has shown signs of resilience and strength over this weekend after facing significant bearish pressure heading...

Opeyemi Sule 11 hours ago
Ethereum

Ethereum Mirrors Bitcoin Post ATH Movement, As Market Bears Target 20% Correction

Popular crypto analyst and key opinion leader Ted Pillows has outlined an insightful trend in the Ethereum (ETH) market amidst...

Semilore Faleti 15 hours ago
Bitcoin

New Peak: Bitcoin Mining Difficulty Soars To 135 Trillion

Bitcoin’s mining math hit a fresh high this week as the network’s difficulty climbed to a new all-time peak of...

Christian Encila 15 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

Santiment

Santiment Highlights Top Tokens: Bitcoin, Ethereum, And Dogecoin Dominate Social Buzz

Scott Matherson 5 hours ago
Bitcoin price

On-Chain Data Reveals Critical Support Levels For Bitcoin Price — Details

Opeyemi Sule 7 hours ago
Dogecoin ETFs kunnen volgende week starten - meme coin miljonair seizoen?

Dogecoin ETFs kunnen volgende week starten – meme coin miljonair seizoen?

Lars Diederiksen 8 hours ago

Premium Sponsors

Press Releases

  • ドージコイン 今後4ドル到達の可能性、新興ミームプロジェクトが200万ドルICOに迫る

    ドージコイン...

    24 hours ago
  • 仮想通貨おすすめ:新興レイヤー2プロジェクトがプレセールで1,420万ドル突破

    ...

    24 hours ago
  • シバコイン 今後の可能性と、新たに浮上する注目のレイヤー2プロジェクト

    シバコイン...

    24 hours ago
  • ビットコイン 今後の展望:長期眠っていたBTCウォレットが突然52億円分を移動

    ビットコイン...

    1 day ago
  • パイネットワーク 価格分析:バンド収束から爆発的上昇の可能性、ウォルコフ指標が点灯

    パイネットワーク...

    1 day 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.